At this point, I´m not convinced that this low is a long term bottom for AUDCAD, as shown in the chart.
The initial pullback from .95159 looks impulsive, so I´m considering it to be wave A of the correction from Jan 28th low. The issue is that wave A went very far, so we´d need a deep wave B to keep this as a correction.
Nevertheless, I´m sticking to this as the primary scenario for now.
The initial pullback from .95159 looks impulsive, so I´m considering it to be wave A of the correction from Jan 28th low. The issue is that wave A went very far, so we´d need a deep wave B to keep this as a correction.
Nevertheless, I´m sticking to this as the primary scenario for now.
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