dojitrader
Long

5 Waves Will Buy Support

FX:USDCAD   U.S. Dollar / Canadian Dollar
40 0 1
An obvious 5 waves in proposed C Wave
plus
Bat pattern
plus
Clear support at what may be a prior 4th wave
Would be an enticing long . . .
But
The 1.618 fib ext of A to B 1.1130
And the measured move @ 1.1120
may halt the correction above support
SO
the market will probably push hard @ 1.1100 support
as that would make the greatest number of traders
sweat the most.
Maybe a clear 5 waves in C will clarify an entry
and candlesticks provide a smart stop
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