$AUDCAD | Bearish Wolfe Wave | 1-4 Target Line

Hello Traders,

Last week, AUDCAD formed a Wolfe Wave at point 5. Because of the higher angled 2-4 line, the move to the downside will be shallow. I expect the 1-4 line to be the highest probability target.

Best,
Chartistry

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Update: Limited retracement ahead, looking for a continuation of the downward move.

More updates to come for a short opportunity.

Best,
Chartistry

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UPDATE: Traders, be mindful of the current level of AUDCAD. With Oil prices set to decline, Geo's Off-Set Rule at point 4 can be enough to bring the cycle to a completion.

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Target Hit.