GBPCAD (Elliott Wave)
Updated
Hello friends
In the GBPCAD currency pair, we see the formation of an Elliott Impulse pattern.
Currently, this wave is completing its 5th wave, of course, it may have been completed.
Because of the count I did, I'm a little hesitant about wave 5.
We can draw a channel on a larger time frame. This channel intersects in the range of 1.7600, which is a resistance with the trend number.
At the same time, wave 5 can grow up to the same range.
In any case, after the completion of wave 5, we can expect a correction in the price.
The first target is 1.7350 and the second target is 1.7220.
To support me, I recommend that you install Trading View software on your phone and see my analysis and support me with your comments and Boost.
Be successful and profitable.
In the GBPCAD currency pair, we see the formation of an Elliott Impulse pattern.
Currently, this wave is completing its 5th wave, of course, it may have been completed.
Because of the count I did, I'm a little hesitant about wave 5.
We can draw a channel on a larger time frame. This channel intersects in the range of 1.7600, which is a resistance with the trend number.
At the same time, wave 5 can grow up to the same range.
In any case, after the completion of wave 5, we can expect a correction in the price.
The first target is 1.7350 and the second target is 1.7220.
To support me, I recommend that you install Trading View software on your phone and see my analysis and support me with your comments and Boost.
Be successful and profitable.
Note
Divergence usually occurs between waves 3 and 5.We see the RSI divergence.
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