USDCAD IS THIS A CORRECTION FOR A LARGER IMPULSIVE MOVE TO COME?
Triangles are a correction five-wave pattern (marked as A-B-C-D-E), which is divided into five types. This pattern is formed in a position prior to the final wave in an impulse or a correction. For example, a triangle could be formed in a wave four in an impulse or wave B in a zigzag.
Also, this pattern occurs in final wave X in a double/triple zigzag or three patterns.
Wave two of an impulse can’t be a triangle.
Waves A, B and C are usually zigzags, double zigzags, triple zigzags (that’s rare), double and triple threes.
Waves D and E could be triangles themselves.
Also, this pattern occurs in final wave X in a double/triple zigzag or three patterns.
Wave two of an impulse can’t be a triangle.
Waves A, B and C are usually zigzags, double zigzags, triple zigzags (that’s rare), double and triple threes.
Waves D and E could be triangles themselves.