Friday, September 16, 2016

Expanded Flat in Audcad?

How do you make good profit in the market. It's simple: look for the immediate trend and trade along.
In Elliott wave term, look for a wave (iii) of the medium term trend of any degree you are looking at.

Seems such an opportunity is surfacing in Audcad.

The chart above shows that the immediate trend is downside and there is a strong indication that price may continue the trend after the prolonged correction.

Price is preparing for the wave iii of C which could go down to 0.9586 while price is expected to stay below wave (b) .


 The chart above shows that the sub-wave ii is an expanded flat. We don't often anticipate or forecast an expanded flat until it's clearly formed.

A break below the rising trendline could signal a good opportunity for the bears to continue to 0.9586.

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