Plenty of ideas on where the USD CAD will go. For now it retests the HH of this correction.
UP/ DOWN is just the direction. Opportunity is present.
So, we have an opportunity. Sharp like a Shark. If price touches my PRZ, I will take it.
Very good RR.
Bat Alternate AB=CD completed, so if fundamentals allow, price will take off.
Most important would be the 88,6 XA retracement .
This one clusters 1,618 BC.
There is a huge bullish Gartley on MN, so I expect huge move out of this area.
Bearish Bat with tide PRZ. Wolf Wave confirms entry. Price can be violent out of PRZ at this level. SL above X.
Price action does not favor the trade, the Risk Reward does.
If confirmed I am planning to follow price and not to take profits to soon.
I was expecting a Cypher to complete before GBP will take higher to retest the previous structure.
Anyway, we will have a Gartley to complete at that retest.
Bear in mind that AB=CD is much higher, so down trend to complete the expected Cypher is still in play
in my opinion.
This Cypher will offer a cluster of AB=CD and 88,6 fibo, a much better Risk Reward...
So we have news and Elliott wavers doesn't care about news. But they surely ignite things.
E point going South, than all the way to the sky. Cypher pattern is at D point on daily chart, so we are a bit late. If news come out negative for AUD we might see another move up before the fall.