Elliott Wave - SELL GBPCAD - Potential Leading diagonal
Good evening traders,
We are testing out some Elliott wave analysis.
We are currently watching the GBPCAD as we could be looking at a leading diagonal.
Any thoughts or comments are welcome,
We are currently shorting with our initial target of 1.6900
We are testing out some Elliott wave analysis.
We are currently watching the GBPCAD as we could be looking at a leading diagonal.
- A leading diagonal consists of five waves, labeled 1-2-3-4-5.
Waves 2 and 4 are always corrective,
Wave 1 is usually the longest
Wave 3 cannot be the shortest among waves 1,3 and 5.
Waves 1 and 4 overlap
Leading diagonals occur in the position of the first wave of an impulse or wave A of a zig-zag correction.
Any thoughts or comments are welcome,
We are currently shorting with our initial target of 1.6900
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