After a successful move down to complete the 5 wave sequence, we should start seeing another move up for the next impulse.
Elliot wave theory has 2 phases, IMPULSIVE & CORRECTIVE PHASES. 5 Moves to the upside and ABC CORRECTION to the downside for an UPTREND. We just completed the 5 waves up as an impulse. next move should be a corrective phase going down or selling in form of ABC.
We got an extension of 100% for wave (v) to complete wave a instead of 61.8 thus CADJPY should be buying till 89.157 to complete wave b then sell and complete wave c
We are in a corrective structure which should take us up to 79.334 level for the next drop down
USDCAD has completed the impulsive 5 moves to the upside. we should expect it to drop till fib 61.8 as our target level
From our previous analysis on the same, we took a buy at 20 level and traded wave 3. Price is now in a corrective phase to complete wave 4 then we get in and buy wave 5
Wave 4 correction completed We should start seeing impulsive wave 5 going up till 254 levels
From weekly timeframe, price has completed a wave 4 correction and now heading for the next impulsive wave 5 which should be a long term SELL
Price is still in a corrective phase, we should see price making a flat correction before resuming the sell trend
After a long rally of AMC completing the 5 waves up,we should start seeing decline in price to complete ABC correction
We’ve started seeing decline in price after the 5 waves completion. A slight correction should push it till 1885 levels then we continue selling the correction
Wave 3 ended at 261.8 which was an extension impulse. We should expect price to rally a bit till $19/17 for the next impulsive phase to complete wave 5 between $34 -$44 per share.
Triangles are continuation patterns while Diagonals are Reversal patterns. We should start seeing decline of pound. Diagonals carry a lot of volume so the drop might be very sharp
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Last correction to complete wave 4 concluded at wave (C) we should expect price to rally up to wave 5
Wave 4 correction should be over, we should see price going up to cover wave 5
Price reached the 161.8% extension for wave C we should start seeing rise in price
CORRECTIVE PHASE ABC SHOULD START PANNING OUT AFTER THE 5 WAVE SEQUENCE