AUDCAD has completed bullish Gartley and bullish shark patterns at significant channel support. Two unhit daily pivots sit above price to add to bullish bias. Targets are placed at .382 and .618 retracements of CD.
Confluence in the PRZ:
Bullish Gartley pattern completion
1.272BC projection (Gartley)
AB=CD (Gartley)
Bullish shark pattern completion
1.618BC projection (shark)
4AB=CD (shark)
2 unhit daily pivots above price
Possible pitchfork support
Strong channel support at PRZ
Bullish Channel:
Note: ANZ Business Confidence released within an hour. I will not be entering AUD or NZD trades until news release.
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Dagangan aktif
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Komen
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I have a limit order to add to the position at the completion of this 15m bullish Gartley:
Dagangan ditutup: sasaran tercapai
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T1 achieved and full profit taken before NFP tomorrow, +92 Pips!
Hi Hiisham - Long AUDCAD I agree with :D Some things to consider when counting Elliott Waves:
1) Wave 4 cannot overlap wave 1 (except in leading/ending diagonals and triangles)
2) A 5 wave motive structure is followed by a 3 wave correction. Maybe your 5 wave correction is leg A of a zig-zag?
Very nice trendlines, the bottom one may hold act as support for the long setup
Hiisham
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ooh,thank you
EW....Still learning and try to fin the impulse wave,I'll edit on my chart and try about the EW
thank you
glennmercer
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Hey no problem we're all here to learn keep up the great work