Price has broken trend line, formed head and shoulders at the top of the trend line right on the resistance, then broke neckline at 32,8 fib level. and also the support, support became the new resistance zone. Price is retesting the resistance zone and then will continue to finish its current trend down to the new support. Enter at 50 fib level stop loss on 32.8...
EURCAD is on our plan for next week.
Assuming this channel on weekly chart is supporting it go higher high to make 3rd wave for at least 1280 pips.
This would take weeks to finish, but it could provide us a great view on how to trade on this pair.
LESS IS MORE!
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Please note I am only providing my own trading information for your benefit and insight into my trading techniques, you should do your own due diligence and not take this information as a trade signal.
A potential unified gartley is setting up on eurcad for the next week. The swing identification algorithm is atr(30;2.5).
Does price have a higher probability for continuation to 1.05XA after completion or for reversal to 0.522XA(same distance in opposite direction)?
I don't want you guys be spoonfeeders, that's why I leave this question unanswered and allow you...