An interesting example of simple symmetry playing out in USDCAD. The important thing to notice is the proximity to the Big Figure 1.1000, which could be thought of as minor equilibrium. The market may chop around this level for a duration of time until the resistance is met where my 'd' point is. This is taking into consideration the duration of time that it should take for this retracement to last as well. The target will push toward the low at the 'c' point if the analysis is correct.
Comments
dojitrader
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Very interesting observation !!!
Is this something of your own making ?
If this chart is correct in identifying a 3 drive,
or, simple zig zag correction,
how does that affect this harmonic analysis ? If at all.
Thanks for your thoughts and lots of success in 2014 ~~~~
If I did not already say so . . . tradingview.com/v/7xPd65Du/
WitchDoctor
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I'm looking for this pair to chop around this resistance until the middle of the day, at which point the expectation is a failure and a drive to give your entry a threat. Will watch the 61.8% retracement level that projects toward your entry
Is this something of your own making ?
If this chart is correct in identifying a 3 drive,
or, simple zig zag correction,
how does that affect this harmonic analysis ? If at all.
Thanks for your thoughts and lots of success in 2014 ~~~~
If I did not already say so . . . tradingview.com/v/7xPd65Du/