$AUDCAD | Bearish Wolfe Wave | 1-4 Target Line
Updated
Hello Traders,
Last week, AUDCAD formed a Wolfe Wave at point 5. Because of the higher angled 2-4 line, the move to the downside will be shallow. I expect the 1-4 line to be the highest probability target.
Best,
Chartistry
Last week, AUDCAD formed a Wolfe Wave at point 5. Because of the higher angled 2-4 line, the move to the downside will be shallow. I expect the 1-4 line to be the highest probability target.
Best,
Chartistry
Comment
Update: Limited retracement ahead, looking for a continuation of the downward move.More updates to come for a short opportunity.
Best,
Chartistry
Comment
UPDATE: Traders, be mindful of the current level of AUDCAD. With Oil prices set to decline, Geo's Off-Set Rule at point 4 can be enough to bring the cycle to a completion.Comment
Target Hit.
Related publications
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.