GBPCAD, 4hr tf, elliott wave analysis

FX:GBPCAD   British Pound / Canadian Dollar
Hello my friends,

This is another setup before we close this month.
This pair a little bit tricky to analyze because i tried analyzing it with Elliott Wave .

As you can see there is a possibility that we're currently on Wave-3 and this wave is an extension.
This mean Wave-3 consists of 5-3 waves as well.
In my opinion we are on Wave-4 of this extension which is shown by the (iv) mark.
Basic elliott waves rule is wave-4 never touch wave-1 area so we could use wave-(i) last point as our stop loss to invalidate our analysis.

Sell GBPCAD 1.7290
Stop loss 1.7375
Take profit 1.6850

RR ratio 1 : 5.1 (5.1R)
Use only 1-2% risk
Good luck


Appreciate your insights. It helps a great deal. Thank You
HayatoDragonFX sherizaanl
@sherizaanl, thanks, don't forget to follow for updates on all my positions
Good job
@Saeed966, thanks
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