Looks like we will have a short move on USD/CAD, well at least it looks like
1) Garthley patter completion 1.264
2) Cypher patter completion around 1.27
3) Bounce of Pivot
4) Second retracement wave from main move and price shows signs of revers of 50% Fibs from the second impulse down plus, moreover it's 38% FIb of the main move down.
Main reason to...
My outlook didn't change since last idea, looks like we are having short move coming up tomorrow.
1) We have Garthleys, Bats and Cyphers forming in 1H,4H and Daily charts all showing the down side. I can't draw them all if than we will have great mess (I see around 17 of them forming).
2) We are getting closer to overbought conditions
3) Expected bounce...
There are 9 different Cyphers forming on EUR /AUD, all of them will complete to the down side. I only outline 3 of them. We have high pivot and overbought conditions. Looking to be short in here, must have a nice drop soon.
We have a short opportunity due to below reasons:
1) We have some Bat patterns (Starting around 1.17 and finish forming around 1.18).
1) We have some Garthely (Starting around 1.19 and finishing around 1.25).
3) Hitting high Pivot point
4) Overbought indicators.
5) See some Price action rejection now.
However this can go little more north but...
Looks like we will have a move up. There are many different aspects telling me that and the patterns as well. We have:
1) 2 Bats
2) 2 Garthleys
3) 1 Cypher
Trade you plan and lets see how this goes.
Please check out this messy chart =)
We might have a nice move up next week. Looking forward to see what the price action will do on lower time frames.
There are Bats, Garthley and Cypher in there. If we have move down we can invalidate all patterns to the upside but complete some to the down side.
Garthley - upside - blue - completing around...
Looking for the move up on this pair
We have nice rejecting from 105.500 level, and there are some patterns as well and we are chilling at the pivot point.
Garthley --> with completion around 106.770 - purple
Bats --> with completion from 107.3 to 107.5 - very light red
Trade your plan, if you don't have one than develop and...