USDCAD on the breaking point

FX:USDCAD   U.S. Dollar / Canadian Dollar
11111 90 255
The USDCAD             is at the breaking point , either to the up side for one more impulse or the down side which would mean a weekly down trend.
I will post followup on this chart as it develops.

Trade with care.
Comment: no break out as yet
Training : add to skype mangal457
Wow just seen this trade setup and thought that I should do a quick wave-count and see where we are on the charts on "loonie". We dont see any buys here yet on this pair. The third wave is not yet over. It may also be an extended wave stopping out all buys. Ok the best way to do this would be taking sells on the lower Time-frames. The biggest trade would be selling the wave 5 at the end of wave 4 correction. Thank you traders...
EWChartist EWChartist
anilmangal EWChartist
Thanks for sharing anyway , but I don't see this down move as a motive wave.
EWChartist anilmangal
You are absolutely right. This move down is not a motive wave it sure is a higher degree correction of that previous impulsive move. But we need to break it down further on the lower degree and the move that we are in now is still developing to the south infact in the third wave that is why we see price moving with such velocity...
Vostiothenjo EWChartist
Hi Anil bro seems like we are still heading south on this right...? Seems like the counts weren't bad either...
EWChartist Vostiothenjo
Still heading south. The 5th wave will extend as predicted...
anilmangal EWChartist
You should take my course, only I promise to teach you for free. You see my time has value :)
+1 Reply
anilmangal Vostiothenjo
That wave count is in correct , I can break it up for you but I have no time for armatures, I will just point out one BIG mistake that breaks a rule , the Wave 3 in your wave one is the SHORTEST WAVE! please stop it.
EWChartist anilmangal
Can see you have started learning some real EW. Guess you didnt notice that the Sub Wave 3 and Sub Wave 5 were equal meaning the Sub wave 1 was an extended wave and according to the THEORY one of the three MOTIVE WAVES will be extended and if so then the other two would be equal. Guess you havent done your ratios right huh...? Maybe I should take your course... Huh...
anilmangal EWChartist
LOL, your wave (iii) in the wave 1 is the shortest wave , measure it? you are making a fool out of yourself. Knock it off.
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