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Veejahbee

Elliot Wave: AUDCAD Heading Higher In Wave iii of 5.

Long
Australian Dollar/Canadian Dollar (FX:AUDCAD)  
Veejahbee  
FX:AUDCAD   Australian Dollar/Canadian Dollar
Trend Analysis Chart Patterns Wave Analysis AUDCAD audcadlong audcadanalysis audcadsetup audcadbuy elliotwaveanalysis elliotwavecount
4
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trendanalysis chartpattern waveanalysis audcad audcadlong audcadanalysis audcadsetup audcadbuy elliotwaveanalysis elliotwavecount
AUDCAD reversed from the demand zone and completed a 5-3 wave cycle.
According to Elliot Wave theory, once a 5-3 wave cycle is completed, the market will resume in the direction of the trend!

The corrective wave unfolded has a w-x-y double zigzag in wave ii and already fulfilled the minimum requirements. Price has the potential to move higher in wave iii of 5.

Entry Ideas!
  • The green lines are the confirmation level for the bulls.
  • The red line is the invalidation zone.

What's your view on AUDCAD? Let me know in the comment.
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