I am simply showing my chart..... I just feel the need to point out the potential MASSIVENESS of a long term buy on Acad.... I'm not making a trade call here. You see it holding under the 200 at the moment. It did complete a running triangle though (which it is breaking out of) right at the beginning of this weekly candle. Very risky play dependent on what Cad Index does (that is another discussion). At a glance, Acad looks like downside, but a closer look reveals the potential for buy within the realm of more modern wave theory concepts when considering combo and diagonal possibilities.... Just saying I find it interesting.... Not a pair many have looked to trade for a long time....
Comment:
I do think it is going up. If it retraces any more than 60-70 percent of that weekly candle it's a bust. You can look to whatever levels you like. For me to claim that it will break top trend line would be crazy considering the time frame, but it looks to me like they are gonna push it up and at least clear out some sells... Remember it has the 1.0000 level to contend with