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Elliott Wave - SELL GBPCAD - Potential Leading diagonal

Short
British Pound / Canadian Dollar (FX:GBPCAD)  
ForexStoreau  
FX:GBPCAD   British Pound / Canadian Dollar
Trend Analysis Chart Patterns Wave Analysis Leading Diagonal GBPCAD elliottwavecorrection elliottwaveforecasts
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trendanalysis chartpattern waveanalysis leadingdiagonal gbpcad elliottwavecorrection elliottwaveforecasts
Good evening traders,

We are testing out some Elliott wave analysis.

We are currently watching the GBPCAD as we could be looking at a leading diagonal.

  • A leading diagonal consists of five waves, labeled 1-2-3-4-5.
    Waves 2 and 4 are always corrective,
    Wave 1 is usually the longest
    Wave 3 cannot be the shortest among waves 1,3 and 5.
    Waves 1 and 4 overlap
    Leading diagonals occur in the position of the first wave of an impulse or wave A of a zig-zag correction.

Any thoughts or comments are welcome,
We are currently shorting with our initial target of 1.6900
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