The market also broke the R3, R2, or R1 and the Market is going is still in Downtrend and also retest the S1. I think the Market will not the breakout the S1. Because S1 is too Strong and if the market is breakout S1 then the market will move to still on Downtrend. If the market is not Success in Breakout the S1 so the Market Change the Trend .
USD/CAD is going to Uptrend Bcz 2-time market successful in Breakout Red line means Long Term trend line and the Orange line is Define the Bullish Wedge Breakout
The market will move in past 50% uptrend and 50% downtrend. After consolidation area market will move to a downtrend. And suddenly Divergence comes into the market and change the trend from Downtrend to Uptrend. Now currently market will take 2 HH and I think 1 or 2 LL. After that in the future market will move to a Downtrend.
On my own Technical Analysis Market is Going to Uptrend and I think the market will take 2 to 3 HH and 2 to 3 HL. and After that Uptrend will be Expire.
From A long time Market is Going on last 3 waves of Downtrend. I think the Current trend breaks the S1. Bcz breakout chances is too much.
If the market if give breakout to consolidation are then the market is move to uptrend otherwise market will come back to S1 at that moment we can take sell trade.
If the Market is Success in Retesting Market will move to Uptrend. If Market was not success in Retest so Market will move to DownTrend.
1. Waiting for the Breakout the Resistance Level and than we can take Trade. and 2nd option is that if the Market was don't Breakout Resistance Level than Market move to DownTrend .