FX:GBPCAD British Pound/Canadian Dollar
It looks like this pair is meeting a very strong resistance at the recent tops at 1.855, as it formed quadruple tops. Now it may get pressed downward and make a new low, instead of the expected by me new high. However, at the last retracement it went only as far as Ret-0.382, so it is also possible that the bulls will be strong enough to overcome that resistance and push it up to new highs. And that is actually my bet. Now I only wonder what the market's answer is going to be.
I hope that you don't mind me to have just sold a small portion of this. In the 4-h-timeframe it looks to me if it wants to see the median line. I didn't put so much attention to your ----. line, despite I must admit that it seems to have some relevance; even more than the upper pronk of the fork.
I understand your decision. It can resolve itself downward just as well as it can go up. The price has stopped and reversed at the sloped switchback resistance, which bodes ill. But it is still my favourite market to trade. Maybe it will only pop up above those tops and reverse at APP-0.500 (50% extension) but some people on twitter believe that if it breaks through the tops, it will make a nice run.