We see USDCAD in bullish mode since price turned up from 1.2830 where we marked end of a flat correction in red wave 4). Well, this uptrend may continue now as decline from 1.3280 is already in three waves within wave 2 that has bounced nicely up from 1.3040 in the last 24 hours as expected. We see price going now above 1.3281 from where we may extension within wave 3 back to 1.3500.
USDCAD, 4H
A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott pattern.
Basic Flat Pattern :
USDCAD, 4H
A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott pattern.
Basic Flat Pattern :
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