Let look at the updated chart of AUD/CAD, I posted an old analysis here check it out here so that you will understand where we coming from with the counting. Remember that Elliot wave gives us the knowledge to know where we are coming from, where we are and where we are going in future in terms of the market.
Looking at the chart about we see where we started 0.95549 we had 5 motive waves, from 0.95549 till 0.99334. I think all the motive waves are easy to spot, so after that, we had corrective wave from 0.99334 till 0.96562. Correction wave was easy to spot and trade, we believe that it has ended now at the support of wave 1. Looking at that spike from the candle shows the trend might have changed, and we should look for bullish moves now. If you missed it when it turned don’t worry you can still enter when wave 1 of wave C or wave 3 finishes. We believe that wave C or wave 3 will have 6 motive waves like wave A. in the course I covered how to trade wave 3 or wave C which Fibonacci ratios you must look for them. Please note this analysis will be invalidated if the price goes below the start of wave A, I showed with a red dotted line where the I.P is. Good luck with your trading, always remember good money management at all times.
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