Scarre

Ending Diagonal Triangle complete?

Short
Scarre Updated   
FX:AUDCAD   Australian Dollar/Canadian Dollar
5
Ending diagonal triangle that has most likely ended. 3-3-3-3-3.

Criterias:
* We got a wave 4 overlapping the end of the first wave
* We got a final 5th wave which represents the throw-over.
* We got price action to pierce the end of wave 3.

Not completed yet:
* Price action did not pierce the end of wave 1. It was very close to doing so.

Wait for the correction to end.
Comment:
Keep adjusting the TL (Circled in red) with the recent price action. Still corrective, most likely will continue until the AUD central bank meeting later on.
Comment:
Trade active:
Shorted here, stop slightly above 21.40 fib.
Trade closed manually:
Closed it off, not because i wanted to. Still believe its gonna retrace to the starting point. Gonna focus on some other pairs instead.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.