Classic Elliot Wave! Shot as for Drop 3 (wave 5)
Drop 1 is longer than drop 2 hence it abides by the Elliot rules mentioned on babypips.com haha Also Correction 1 does not go beyond the start of the whole pattern and Correction 2 does not exceed Correction 1 and both these Corrections retrace at Fib levels!! I'd put my take profit at a safe place by the start of Correction 2 and my stop loss just above the start of Drop 3. I also have bearish biased because I believe EURCAD to be going up and these pairs are 97.3% correlation according to myfxbook.com
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