Here triangle is going to end its formation very soon and a break to the upside is expected to unfold the green wave 5.
Triangle is a type of correction that always precedes the final movement in the larger trend.
If assume that wave 5 will be the same length (as waves 1 and 3 are equal in length), the price will go above 6 CAD.
Triangle is a type of correction that always precedes the final movement in the larger trend.
If assume that wave 5 will be the same length (as waves 1 and 3 are equal in length), the price will go above 6 CAD.
Note
There we go!Note
I believe we might go lower and touch upper edge of the smaller triangle before starting strong impulse up.Trade active
June marks wave 5 start with the highest volumes in the company history.Note
This is my updated EW count for the base case scenario where we are in the black 3 of green 5 now (the green 5 is wave this idea was created for). I expect the green 5 to touch upper edge of the greens 2-3-4 channel following a textbook 5 wave length prediction.
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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.