Price is currently in a 3 Waves channel. Its currently forming a 2nd Flag expected to extend to Fib 61.8 @ around 1.48780. Afterwards, the Price is expected to rally up to Fib Ext 127.7 of the poll of the 2nd flag to about 1.5456
On Weekly TF, USDCAD is on a Bigger correction to test 1.305. The lower TF wave counts on Daily, price is at the end of Wave 2 (1.27) prepping for an impulsive wave of Wave 3. I expect Price to get to 1.3 before flushing down sometime in the future
Completion of Wave 5 on weekly TF to 1.06. Currently, at end of Wave 3 on Daily,we expect a correction for Wave before extending down to wave 5 to align with the completion of Wave 5 of the weekly TF
Currently on wave 4 correction on Weekly chart - ABCDE. The correction is currently at the 5th wave to the E leg. On daily, a pullback to 61.8 fibs is expected before a downward direction to complete the 5th wave
ABCDE Waves structure.. Currently about to complete Wave D. Wait for completion of wave D to Take importunity of Wave with a better R:R.
Note that Market is very slow due to the holidays. Happy trading
Currently at Wave Z of WXYXZ formation.- Short on a long term basis. Lookout for Fractal waves within the Higher Degree wave Z for opportunities to buy or sell. Apply MM
