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Downside movement possible if respection of the TL occurs. Confluence with 61.8, flat div. on LTF
May be a possibility to buy after if the price action completes the harmonic pattern.
The Wyckoff cycle is a well-known price cycle that is really powerful. In 2 years of trading, I never saw anything that close to it, at least not on a higher timeframe like the daily timeframe . It is clear as day! That being said, could we consider an upside continuation for 2018 ? USD would continue to lose value, pushing the price up? EUR would go up as well?...
We have a trend line structure in this setup, a descending channel. On the 240, we have a M peak formation at its 2nd leg, and in that 2nd leg, we also have a M formation on the 15-min, a timeframe that I use to enter my trades.
CADCHF is then a pretty good short opportunity. I'll be short from 0.7815 and I'll have a SL around 0.7825. If the trade hits my SL, I'll...
I'm overall long on this pair. On the one hour chart, there's a nice pivot point reaction + resistance level reaction, as well as bullish pressure on the candles. For these reasons, I bought AUDUSD at 0.7589.