Hello Fellow Trader! AUD/CAD forming a 3-wave zigzag pattern which is generally labelled ABC with 5-3-5 sub waves. See picture below for an example. The flag has now been broken and can enter short if it retests or once 50 EMA crosses below 200 EMA. AUD/CAD should then find the last of the wave towards the daily 200 EMA. Key Points: - Price holding below the...
EW labels as charted suggest an ABC is unfolding in a Zig-Zag corrective structure: The 5-3-5 pattern is emerging, with the C wave 5-impulse remaining to fill; Bear market rally 'B' wave has taken form of a WXYXZ 3-3-3 minute wave pattern, 3 counter waves each in turn consisting of 3 minute waves (minute labels omitted for clarity); the double topping ending...
THE POUND HAS RETRACED TO THE 618 WITH BULLISH SENTIMENT. NOT GETTING AGRESSIVE WITH PIP TARGET BUT STILL MAINTAINING A 3 TO 1 RISK REWARD RATIO. PIP TARGET 228