FX_IDC:AUDCAD   AUSTRALIAN DOLLAR / CANADIAN DOLLAR
152 4 3
Since we have entered the LR200 we have made two clear legs up as drawn with the Fixb Extension.

Currently the LR50 is downward indicating a correction before our 3rd leg up. My entry is based on the 2.B position of the numerical ordering of wave theory.

1 - Impulse
2 - Corrective
3 - Impulse
4 - Corrective
5 - impulse

A. B and C are part of a correction of waves 1 - 5 in a bigger wave on a larger time frame.

This is the Elliot wave summary for all my novice traders.
In my later trade idea, I shorted on the double top for a profit of 160 pips. This idea was posted.
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The support is broken I have closed my position with little losses.
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snapshot


I have added the daily chart, where you will see 4 periods of previous resistance on the 200MA now we have broken above and our testing the 200MA as support
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Look at the Support where corrective wave 4 ends. Or where I have drawn the Second Leg (Yellow) too.
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