EURCAD Bullish Trade Setup
In the EURCAD chart above, the price made a five-wave impulse rally, in wave "i". According to the Elliot Wave principle, a three-wave correction in the opposite direction follows every impulse move.
In EURCAD's case, the corrective move has been taking the shape of a double-three pattern which seems to be completed or still has the potential to make another leg down in wave (Y).
While putting the probabilistic scenario of wave (Y) in consideration, the break of the green line will indicate the completion of the corrective structure and signal the resumption of the bullish impulse.
I just have my buy stop set at the level and waiting for the market to do is things. What's your view on EURCAD?
Best of luck on the chart,
Veejahbee.
In EURCAD's case, the corrective move has been taking the shape of a double-three pattern which seems to be completed or still has the potential to make another leg down in wave (Y).
While putting the probabilistic scenario of wave (Y) in consideration, the break of the green line will indicate the completion of the corrective structure and signal the resumption of the bullish impulse.
I just have my buy stop set at the level and waiting for the market to do is things. What's your view on EURCAD?
Best of luck on the chart,
Veejahbee.
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