AUDCAD moving higher (?)
The chart shows two potential ideas for a count based on Elliott wave theory. My main scenario is still bearish that will see price finishing a larg WXY formation (red color). Here, I believe price to be in a wave B (blue) of the wave Y. The alternative is that the WXY (red) has already ended and price will move higher.
For now, I´m targeting the end of wave B (blue) which is shown as a fib retracement of wave A.
Furthermore, we can see a couple of channels lining up nicely with the wave count that could provide support for future price movements.
For now, I´m targeting the end of wave B (blue) which is shown as a fib retracement of wave A.
Furthermore, we can see a couple of channels lining up nicely with the wave count that could provide support for future price movements.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.