Rising wedge at the upper narrowing
trend channel line hitting a strong Resistance zone.
Shall go down
trend channel line hitting a strong Resistance zone.
Shall go down
Kommentar:
Down turn occurred as predicted. Still believe that we have a large scale Head and Shoulders formation. Not wise to long USDCAD, until this formation is invalidated. Cheers
Kommentar:
Price is approaching the lower trend line (shown in cyan). The 1-5 formation needs to complete in order to evaluate whether the price will go back up or else. Stay tuned for further info.
