I think this will retrace, its gonna go down into monthly support and bounce right off easy TP 1 and 2 zones.
I think the High low will be tested again. Fall into consolidation before breaking 1.107733. Once it fall below that, it'll most likely consolidate again in the green range. Than DROP
I think the High low will be tested again. Fall into consolidation before breaking 1.107733. Once it fall below that, it'll most likely consolidate again in the green range. Than DROP
Price will bounce from 1.49702 If price breaks up that price it will retrace and come right back down for a free fall of cash.
so here we have a simple setup. Elliot wave will short. to bounce back up to go back down than finally reaching the support that would ultimately cause a breakout on the buy side
USDCAD will be very bearish price will not break aboce purple resistance at 1.27235 if price breaks 1.25578 expect heavy downfall
I'm expecting a bounce off of the blue trend line to head back down to support.
I dont know what patter this is but i know I have seen it before so lets see if this go my way
Here I've drawn up the fib retracement. Swing Low to the Swing High. Retracements are normally more responsive for a stong reversal at .618 Go Long. Strop Loss would be at the nearest structure which is at . 154.466 I placed my TP at 155.155 because the resistance right their is very strong look to the left and you will see structure.
Outside of breaking even at .618 I am expecting this to drop around 20 pips. SL is at 95505 TP will be above the .236 line .95196
BLACK LINE- DRAWN UP ON MONTYLY CHART GREEN LINE- DRAWN UP ON WEEKLY CHART BLUE LINE- DRAWN UP ON 4H CHART PRICE WILL NOT BREAK GREEN OR BLACK LINE. UNTIL READY TO EXPLODE. LOT OF CONSOLIDATION.
This pattern will be up and down due to the GREEN TREND LINE AND SUPPORT. Once candle stick breaks the 1.43495 price will keep going down. very high probability that at .618 on the fib retracement. Price will bounce back up!!!
so we have 3 zones being broken by a bearish trend. if you look in the 3rd zone you will see a M starting to form. That M would end the bearish downtrend and reverse into a bullish trend after the market corrects itself. theirs A flag pole that hints that hints a new trend is in the works also. Blue dynamic support was drawn on the Monthly chart. as quoted...
pink resistance was drawn on monthly. this is going short. place stop loss above 30 pips above.68281
1. Set support and resistance zones in red on weekly chart extremely strong reliable support and resistance. backtest and see how many times each red support and resistance line been tested. 2. Drew additional support and resistance lines in blue, showing very strong support and resistance again, Back test and see how many times it have been tested and held...