USDCAD has one little dip to go? UC dip below 1.3--- once more?

13 Sep 2018

Quick post to see if EW and Fibs play out/

I think we are in a wave 4 of 5, and still have a w5 of 5 to go.
Of course, betting on w5 of a w5 is NEVER a good idea, so just putting this out there for practice.

Wave 5's are notorious for not extending beyond the 3 (double bottom) or having completed already within the 3.
So this is JUST for fun, but lets see how it plays out.

I am confident the price will at least NOTICE my zones when it gets to any of them.

Background: The above is a follow up to my previous Idea which called for the bounce

13 Sep 2018

Nota

UC might be turning at my first resistance zone.
Or at least it is noticing it and has to regroup to break it.

13 Sep 2018

Nota

UC loves to double test resistance, and looks to be doing so.
Lets see what happens here, will be very telling

13 Sep 2018

Nota

Here we are, the moment of truth

14 Sep 2018

Nota

Since last update, UC did drop quite a bit from that double top in pic above. But then came econ news and Trump. And now we have this pesky -1.618 extension holding things up. I still think it wants to finish a wave 5 down.

14 Sep 2018

Nota

Sure enough, that pesky 1.618 fib looks to have bounced it.
So I guess we had a 'truncated' wave 5.