After the close of the candle which we viewed as a strong sign we took AUDCAD long at 0.94252 Our algorithm was giving us 90% chance of a move which helped give us the confidence to take the added risk in this trade. Unfortunately we do not have enough size to piece out of and will look to liquidate at one price.
This does not mean that point 4 can't still form. We could very easily get a reversal but it will have to happen rather quickly as too not take out point 3. If we do in fact get a point 4 we will reevaluate and possibly take another long trade as this pair will be in the process of forming a 5 point primary wave.