TradingEW
Long

USDCAD counter-trend trade

FX:USDCAD   U.S. Dollar / Canadian Dollar
75 3 4
The 3-3-5 corrective wave structure forms the (b) waves of correction (2) and it will eventually be retraced either fully or partially by the next impulse (c).
Thus setup for the impulse (c) wave up, with minor position size for such counter-trend trade, SL at invalidation @ limit of expanded flat.Target 0.6182 x (1).
Watch out bulls - the correction wave (2) since 28th October is coming to a close towards 0.6182 retracement and this pair will resume down trend on (3).
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Going long on impulse wave (c) up, with small position size for such counter-trend trade, SL at wave (b) limit.
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Price update - a tricky complex minor wave iv, often cause problem as a 'bull trap'.

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