KVE
Long

USD/CAD: Buy the pullback or buy the breakout...?

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
111 0 6
Will we get a possible C wave down to get a nice entry lower down for the next impulse up?
2 possible entry zones on chart...

If it doesn't retrace further or for people who like to trade breakouts more than pullbacks: simply trade the breakout of the trendline above the current correction...

Choose wisely...
Comment: No breakout yet but not much downward momentum either... It seems that the support represented by the red line is holding, this red line is actually the top of a former larger degree wave 3 high.

Therefor I feel that we might break to the upside sooner than expected and not get the ideal entry, just a feeling...

Of course there's always the breakout trade... For that one it would be ideal to get a break above the high at (1) with a re-test to that level and than a continued move up to give us confidence... But we don't always get what we want...
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