There is also a POTENTIAL (blue) that I marked out that should mark the end of the expanding triangle and it's point e. This point should mark the beginning of wave B back up.
MY TRADING PLAN
There is still much downside to go on this wave 4 correction. But as I mentioned in my last post, I missed out on the entry SHORT on this pair and am not currently holding any SHORT positions. However, when prices reach the end of this bat, I will take some LONG positions to catch the wave B up and then will look for signs of wave C down to start. But the real reason I will take some LONG positions on this pair is because USDCAD is STILL in a very strong uptrend and this would be a trend trade. So if my count is wrong and this expanding triangle is it for the wave 4 correction and the main trend does resume, I'll be in on it and ride wave 5 to new highs.
Year-to-date Profits: +5,794 pips.
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