dojitrader
Long

Risk Reward of 4th Wave ???

FX:USDCAD   U.S. Dollar/Canadian Dollar
48 0 0
Looking for a flat, so, it will probably be a zig zag ?
The R/R is weak on this trade, depending on how the price
action actually play out, but, if the pattern plays out
as anticipated it seems to be a clear probability for a 5th wave
profit with low risk where wave 5 would equal wave 1 around
1.9035/40 which is nicely into resistance.
Maybe then a short into a 4th wave of larger degree and then a long
should the correction show only 3 waves down.
No doubt I'm guessing much to far into the coming hours, but,
this is the possibilities I'm looking for in the Loonie.
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