MINOR RETRACEMENT BEFORE MAJOR BUY (ELLIOT WAVE)

FOR USDCAD on the minor timeframe we are still in the process of finishing up WAVE 2 which seems to be unfolding as FLAT Corrective Structure. Within that FLAT structure we seem to have completed the LEG A 3 wave movement followed by the LEG B 3 wave movement. The final LEG C now should unfold in a 5 wave movement down to complete Wave 2. Within the mentioned 5 wave movement down for LEG C we are currently completing its Wave 4 before hopefully pushing down again to complete Wave 5 subsequently completing the Flat structure and subsequently completing the Wave 2 in the Semi Major timeframe. For flats the LEG C usually ends slightly beyond the start of LEG A. That would be my TP area for the sell order before going for the MAJOR BUY for Wave 3 in the Semi Major Timeframe. The SL for me would be placed slightly above the end of WAVE 1 since its invalid if Wave 4 enters price territory of Wave 1 based on ELLIOT WAVE'S THEORY.

For the Major timeframe analysis on USDCAD please visit my profile and view the latest post on USDCAD priot to this one as that gives more of an idea on the HIGHER TIMEFRAME

IMPORTANT ELLIOT WAVE STRUCTURES
ZIG-ZAG (5-3-5)
FLAT (3-3-5)
TRIANGLE (3-3-3-3-3)