probability tells me the EUR/CAD is headed towards the next ML. The retest is a good sign so lets see if it can break the previous two minor swing tops as that will be a stronger indicator of the ML Target areas being reached.
PS: I am yet to do my timing lines on the P4/Probable P5 swing.
What an explosive run, Can everyone see the spike down that temporarily broke the lower MLH? This is a classic manipulation play at its best for those who can't see it let me explain
(As a side note: each touch of the lower MLH were great 2:1 long trades for those who were on them)
A beautiful pennant formation ending with a classic fake-out which took out all the breakout traders on the short side and for those who were accumulating long positions and who had stops under any of the previous swing bottoms before the down spike:(.
The BIG play was when the market climbed back into the median line set, then initially, made a small attempt at a retest of the lower MLH but failed but then plunged into that lower MLH and closed above it....from then on it was BLU SKY!!!
I am expecting it to reach the ML.