The last low can be the end of the monthly regular flat and the next wave can be a huge upward impulse. After the orange C, it made an impulse, which broke the trendline, and a correction, which bounced back from 0.886 retracement level. So, we may have a complete reversal pattern, and it seems a trade setup is in the making. That's why I placed a pending order.
Elliott Wavelongtrademedium-termUSDCADWave Analysis

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