AUDCAD reversed from the demand zone and completed a 5-3 wave cycle.
According to Elliot Wave theory, once a 5-3 wave cycle is completed, the market will resume in the direction of the trend!
The corrective wave unfolded has a w-x-y double zigzag in wave ii and already fulfilled the minimum requirements. Price has the potential to move higher in wave iii of 5.
Entry Ideas!
What's your view on AUDCAD? Let me know in the comment.
According to Elliot Wave theory, once a 5-3 wave cycle is completed, the market will resume in the direction of the trend!
The corrective wave unfolded has a w-x-y double zigzag in wave ii and already fulfilled the minimum requirements. Price has the potential to move higher in wave iii of 5.
Entry Ideas!
- The green lines are the confirmation level for the bulls.
- The red line is the invalidation zone.
What's your view on AUDCAD? Let me know in the comment.