For my previous post with first entries and context see link below: USDCAD has been good for us this summer and so far it is good for us again. We saw a 'Flat' correction with a spike lower during the speech of Yellen.
This spike exactly tested the low of last month. This is one of the market dynamic aspects we have to take into consideration. Once we saw the bounce I entered long again with a third position.
Although price is moving lower in a pretty steep angle I expect a reversal soon. We are testing the July lows again and I like to buy USDCAD after divergence by means of a 1-2-3 reversal pattern.