forker

USDCAD follows the ancient rules of Action & Reaction.

FX:USDCAD   U.S. Dollar/Canadian Dollar
The rules of action/reaction is my analysis framework.
Applying the rules and using the framework (NOT vice versa) is giving me information, not trades.
By using these information, it helps me putting togheter a puzzle.

Context
  • If the chart was a dayli, or a even minor TF, i would say that this market is building a upsloping
    coil, just to go down the same way as it came from (the top)...scary isn't it ;-)
...let's focus on the low from around 0.9037 - since then, the market did not "trend" in the
monthly TF, it more spiked up and down. And there we are again, at the extreme top where
price is trying to crack it.

Price Action
  • rule of A&R, when breaking a line of extemes apply
  • price reacting at the (grey) A&R lines
  • EP - a point where a final thrust could mark the turn

Lets see if
a) price can sty longer in the mini-Fork (orange)
b) the A/R line below the actual bar (grey) give another reaction point
c) we finally rocketing to EP

Lets relax and observe...

Peace!
Nice A/R Lines, When these parabolic moves outside the fork reach and then react off the lower parallel...They like to crawl up them a few times before finally breaking down. Nice to meet another forker ( Excuse the Pun! )
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forker PRO Timing is key
Thanks TIK. No excueses ;-) Courious how it will end up. Orange fork is very steep...patience and time will tell.
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You have a logical target, EP with CL confluence, I will do a chart workup to see if I can pickup on any price & pissible timing elements around that area:)
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Timing is key Timing is key
Bad spelling :) possibly
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forker PRO Timing is key
§8-))
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ancient
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