I see USD/CAD going lower

USD/CAD on the daily.
Looks like it's in the 4th wave of a 5 wave cycle. (blue lines)
Wave 2 levels drawn with the yellow pennant.
Wave 4 level / target drawn with pink pennant.
Wave 5 could be the impulse wave that exceeds levels 1 & 3?
Still learning. Any feedback is welcome.