Price reached the center of the Pendulum Swing and seems to turn on a dime.
Confluence is in place with the A/R set (grey). But if i'm picky, i would say that the CL (Center Line) of the Mini-Fork (blue) is not reached yet. Until the L-MLH of the Mini-Fork is broken, and the market created a stopp, i just observe the CAD.
"But if i'm picky, i would say that the CL (Center Line) of the Mini-Fork (blue) is not reached yet." Your left handle not at extreme?.....maybe your using highest close? If you shift left handle (B) 2 bars to the right we have 3 monthly touches of ML........Still very significant....if bottom MLH breaks a PB entry would be nice:) Nice chart MrForker and Ivan Labrie showing the inverse confluence with Time
Timing_is_key
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My original USDCAD chart still in play and respecting upper parallel/reaction line and SQRoot cluster....will run the numbers again:) take care
IvanLabrie
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Excellent, the the oil rally thesis is favored.
Timing_is_key
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Yes Ivan.....for the traders who need a nice ( and funny ) article on the correlation between Oil and USDCAD have a https://read.....http://www.babypips.com/school/undergraduate/sophomore-year/intermarket-correlations/black-crack.html
You short at the PB to the square? Or do you wait for another PB?
IvanLabrie
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This is just an indication of time and price. Price was exceeded, so it's not important now, time has been met. We are in the last quarter of this trend signal.