USD/CAD corrective mess triangle/complex correction
the wave count dictates that we are in wave X of a minute degree and yet we haven't show the complete pattern so here is the probabilities:
1) Triangle : it is the highly probable pattern, and since the wave B/X is smaller than A/W and wave C/Y is bigger than wave B/X allows us to assume that a probable triangle would be a barrier triangle, with that being said we should anticipate price being supported at the red line, currently price has made and distinguishable abd correction but even with the NFP report coming out it positive for the Green price couldn't complete wave D this indicates to us that price is preparing a WXY correction inside of wave D but this still remain to the price to make it.
2) WXY : this is probable if price hasn't been supported at the red line we can assume that this corrective pattern is not a triangle which led us to this probability (WXY correction) but we cannot confirm this count until the price break the green line that server us as a support .
3) WXYXZ : as all wave practitioner i do know that this correction is rare but it still possible if price didn't visit the red support and continue it's rising.
1) Triangle : it is the highly probable pattern, and since the wave B/X is smaller than A/W and wave C/Y is bigger than wave B/X allows us to assume that a probable triangle would be a barrier triangle, with that being said we should anticipate price being supported at the red line, currently price has made and distinguishable abd correction but even with the NFP report coming out it positive for the Green price couldn't complete wave D this indicates to us that price is preparing a WXY correction inside of wave D but this still remain to the price to make it.
2) WXY : this is probable if price hasn't been supported at the red line we can assume that this corrective pattern is not a triangle which led us to this probability (WXY correction) but we cannot confirm this count until the price break the green line that server us as a support .
3) WXYXZ : as all wave practitioner i do know that this correction is rare but it still possible if price didn't visit the red support and continue it's rising.