This is an update for my previous usdcad idea
but this is not a long usdcad idea, but more of a short (FX) idea
(look below for more charts).
I wrote in my previous usdcad idea "Alt. view would be that this 5 waves advance is wave A
in a 3 legged C wave." and it looks like this is turning out to be the case.
We reached the min target at 1.0900 and have now put in a long legged
at the 61.8% fib. As it stays above this weeks low, we should see new highs
This is in line with me view that and FX are
about to start another decline for new major lows.
Check out my other ideas about gold , nzd, aud and oil .
Follow all my demo trades at http://www.myfxbook.com/members/tlkemmy/demo/854232
and according to them, the ratio has to be >2.0 longs for every short for the trade to be "crowded" https://twitter.com/CVecchioFX/status/453867095114018816/photo/1