we have a good setup here for AUDCAD using the Elliot Wave patterns.
as you can see, it's forming a correctional flat pattern, with a bullish impulse.
if break above happen, then we our target profit is at the 1D resistance above.
and for any reasons that it will break below our support then we still have a good sell opportunity. but more likely it will break above the 1D resistance hitting the next 1D resistance as Elliot Wave is more on behavioral wave pattern in the market.
as you can see, it's forming a correctional flat pattern, with a bullish impulse.
if break above happen, then we our target profit is at the 1D resistance above.
and for any reasons that it will break below our support then we still have a good sell opportunity. but more likely it will break above the 1D resistance hitting the next 1D resistance as Elliot Wave is more on behavioral wave pattern in the market.