Hi.
I'm looking at GBPCAD for a potential buy entry.
Elliott wave is always an interesting feat, lol. I attempted to count the waves that have formed and believe we are in an ABC correction right now.
It looks like price has hit the D -0.27 extension on the sell. Now waiting to see if we will get a deeper retracement or if price will start to move up.
If my analysis is correct for either level, I think this could be a long term play.
I am not entering now. I want to wait for bullish indication.
I'm looking at GBPCAD for a potential buy entry.
Elliott wave is always an interesting feat, lol. I attempted to count the waves that have formed and believe we are in an ABC correction right now.
It looks like price has hit the D -0.27 extension on the sell. Now waiting to see if we will get a deeper retracement or if price will start to move up.
If my analysis is correct for either level, I think this could be a long term play.
I am not entering now. I want to wait for bullish indication.