My Elliotical Approach to USDCAD Long.
OANDA:USDCAD U.S. Dollar / Canadian Dollar
The chart mentions everything pretty clearly. My next approach would be to look for an entry point close to the channel's lower trendline with the protective stop (invalidation level) at wave 1 high. This is the 5th wave of the 3rd wave as per my analysis which we would attempt to capture. The target should be close to the channel's upper trendline. A definitive target will come into existence once the correction is completed. Happy Trading!