UPDATE #1: ANALYSIS: USDCAD: WAVE (C) STARTED TP1 HIT (+70 pips)

in my previous post on this pair (see Related Ideas: "ANALYSIS: USDCAD: SETTING UP WAVE (C) DOWN (POSSILBE 500+ PIPS)"), I mapped out the wave count on this corrective wave showing the completion of the expanding triangle which was wave (a) of he corrective ABC wave. And that from the end of the triangle point E, the next move up was to be wave (b) and I showed where that should end by way of a 2 Gartley patterns. Well, prices did exactly as predicted and went to the .886 Gartley fill, entered it's PRZ slightly and then went down from there beginning the wave (c) leg down.

Prices have already hit the TP1 of the Gartley bagging +70 pips. But of course, in the headline of the previous post, I mentioned that this wave (c) could possibly yield 500+ pips. So I fully anticipate that there is more price decline to come. Lots more!

MY TRADE PLAN
I am of course SHORT from the Gartley entry and looking for more pips. I will NOT take any profit from the TP1 expecting fully that there is more decline to come. When prices hit TP2 at the 61.8% retrace of the Gartley, then I will see what the PA is telling me before considering if I will take any profits at that point.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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