FX:EURCAD   Euro / Canadian Dollar
103 2 7
Hello Traders,

EURCAD             is offering a small move to the downside. The target to look for here is the 1-4 line. I have highlighted where the highest excursion of price might go before falling. Make note of that level as it can act as resistance.

Comment: UPDATE: Although this was not a successful trade. It is interesting to observe the 5' (prime) line acting as a reaction point for EURCAD and the 1-4 line acting as the equilibrium point for the move.


Thank you for posting this chart as it is very educational and to train your eye for future set-up's like this , it does not mean that price will drop at 5 or even an AB=CD completion , he Copy of 2-4 Line and then the intersection of price at 5' is just as important .

Thank you once again .
+1 Reply
GWaves PRO johnmad
@johnmad, Hi John, great observation. 5', more often than not, acts as a reactionary line to the Geo'. I find it fascinating that dramatic moves in the market, such as the one on this chart, still abide by the rules of certain geometries and mathematics in general.
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