CADCHF recently made an impulse drop and we know that motive waves are always followed by a correction. At a current price it would make sense to wait for a pullback before the next drop continuation. Although we can't currently tell which correction we can expect as wave (B) over time we can tell. We can expect any correction pattern ( Zig-Zag, Flat, Triangle, etc) popular Elliott Wave Theory correction patterns. From the chart above we can get opportunities from both short and long sides. It's unlikely the wave (A) expectation can make more sell-off as we reached the 61.8 Fibonacci multiples from the first impulse up the leg.
There is an alternative view for the CADCHF that the pattern can also be counted as a Diagonal pattern specifically a Leading Diagonal pattern( continuation pattern such as pennant).
There is an alternative view for the CADCHF that the pattern can also be counted as a Diagonal pattern specifically a Leading Diagonal pattern( continuation pattern such as pennant).
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