USDCAD preparing for more retracement

FX:USDCAD   U.S. Dollar / Canadian Dollar
128 9 7
Going short on (c) of correction 4 retracing towards 1.3400 area.
Trade closed: stop reached
Here's the 3 of 3 of 3, but not sure where the volume comes from, definitely not from Asia, where busy watching NY firework.
More like a wave (3) of a 3rd wave developing to the downside
TradingEW TradingEW
End of the year shorts for CAD pairs ??
I think stop should above wave (b) so it has more room, theatrically wave 2 should not retrace more than 100% of wave 1.
+1 Reply
TradingEW bharatest
Good point there, thanks!
Nice trade ideia! I shorted USDCAD few minutes ago!
TradingEW tempraturbo
It's looking good!
Stopped out. Reentered short at 0.6182 retracement.
Wave (2) correction retraced more than 80%. Now resume trend looking at taking ED bottom and breakout on wave (3) down.
Minor correction (2) looks complete on 5min. at 50% retracement with an ED wave c.
Looking for a swift decline from here:
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