USD/CAD pair is believed to be in the preliminary phases of the long time frame 5th wave (check out monthly chart). Seems like that the correctional 4th major wave completed it's ABC count (circled letters on chart) and struggling to complete the minor 5 waves of the first leg of the major 5th. Estimation is a retracement back to 1.256 levels (where 2 strategic lines and a Support line coincides). This would be the 4th minuet wave completion. The 5th minuet is expected to expand all the way from 1.256 to 1.28. A relatively short but profitable trade could be made.