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.
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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.