eurcad -- alternate view of correction

The triangle correction (see last post) is not working out, but I can see a more likely view of the correction, which anticipates a long move on the very next low. The assumption is that price has already made a low, for (Y), and that the move since then has been a correction of that spke up. Basically the buy range is in the highlighted area. I will reassess if it fails to reach that low. See attached chart for a larger view of the month-long correction.