gbp/cad - bullish structure

9 feb 2017Within a bull flag, currently a three wave move from the local low (c/2). I am looking for this to continue up, so long as price doesn't intersect with wave i at 1.6363. Alt is a slightly deeper correction, but for now immediately bullish.

9 feb 2017

Commento

The longer term move shows a low, from which a bullish impulse has formed as shown above. Whether the long-term picture is ABC or the high was a truncation, a bullish move is due here.

10 feb 2017

Commento

starting to look too time-consuming for wave iv. Any break of 1.6363 will see a further 3 wave correction to 1.62. Overall remains bullish into next week.