People say short on AUDCAD, it actually might be long after all.
I have marked this chart a long time ago and have ever since not paid attention to the pair. (Since I am not very confident at Elliot Wave analysis, I decided to stay back an monitor.)
My prediction of price breaking out of the triangle going upwards actually happened and the price is now sitting at the daily resistance zone waiting to (maybe retrace first) then break it before completing the extended wave 3 and then hit the roof at the end of wave 5 at (0.902xx). If this prediction is getting more and more correct, I am looking for an opportunity of when the hedge funds trap the bears and go bullish in a few days/week. Don't go short yet people. Let's see a major rejection first.
Note, I would like to go long only if price breaks and then retraces at the reactive zone towards (0.902xx)
My prediction of price breaking out of the triangle going upwards actually happened and the price is now sitting at the daily resistance zone waiting to (maybe retrace first) then break it before completing the extended wave 3 and then hit the roof at the end of wave 5 at (0.902xx). If this prediction is getting more and more correct, I am looking for an opportunity of when the hedge funds trap the bears and go bullish in a few days/week. Don't go short yet people. Let's see a major rejection first.
Note, I would like to go long only if price breaks and then retraces at the reactive zone towards (0.902xx)