EURCAD - Going long after big falling wedge - Good R/R!

Looks like we got a Diagonal for wave ((v)). We should now see a 3 wave correction higher before continuing to the downside.

Invalidation is at last low 1.4875.
Target to be determined.

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Once price goes above 1.5050, move Stop to 1.4938

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Price came lower, looks like we are in a flat pattern. Trade remains valid.
Look for a better entry point if you want.

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If price starts turning around current levels, we might consider a Triangle, we then know we are in a ABC move and there will be only one more push up before price starts to fall, because Triangle patterns precede the last move.

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Price needs to hold above 78.6%level, a break below might mean lower prices.

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Price just exploaded as GDP data came at 0.4% versus the 1.2% expected and 2.0% from previous release.
Move Stop to 1.4920 for all entries.

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Moving Stops to 1.5040. I still think we will have higher prices but want to take at least some profits if this doesn't play out as expected.

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Price exploded on Dovish BoC

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Can move Stop to 1.1510

ElliottWaveBelgium

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ElliottWaveBelgium

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