dojitrader
Short

Channel Trade or Trend Change . . . ?

FX:AUDCAD   Australian Dollar/Canadian Dollar
139 1 2
Looking for a 3 wave correction in a 4th wave
to get on board the 5th or A/C wave down.
3 waves are the key to signal this is possible
or it's likely headed for the top of the channel
once again. Always seeking guidance from
the candlesticks for good entries and stops.
Was expecting a zig zag just above the .382.
Alas, this appears to be more of a flat that came up short
of the target entry and may have seen the top of this 4th wave.
An immediate reversal will target right at the .382 would
provide one last chance, but, this pair is looking very weak.
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