GBPCAD- Analysis by Elliot Waves Theory

GBPCAD have completed 5 impulsive wave, because of that we are looking for downward correction.
Another reasons for this analysis is there are a divergence between top of waves 3 and 5 on MACD in addition there is a confirmation for correction since prices broke wave 4 on lower time frame

This analysis to be failed if prices break last peak at 1.71454

Good luck and trade safe.

THX

Trade active

Trade active:

We can take the first profit and stop loss on entry

Trade active:

The analysis is still stand and stop loss will be by closing over it with H4 candlestick .

Trade closed: stop reached