GBPCAD big short setup - violent drop ahead
Violent reversal lower based on the following analysis:
1. Parabolic rise.
2. The 3/8th Major Harmonic (dark red horizontal line) is a monstrously powerful pivot level. When prices are rejected at this harmonic level, it’s generally a fast and big drop.
3. The move may be exacerbated by the presence of a new swing high being found during the appearance of a new Lunar cycle (New Moon).
4. 360-day inner year Gann cycle -The GBPCAD pair is 357 days from the March 19th, 2018 swing high.
5. The outermost arc in the current law of vibration cycle creates powerful resistance here as well.
1. Parabolic rise.
2. The 3/8th Major Harmonic (dark red horizontal line) is a monstrously powerful pivot level. When prices are rejected at this harmonic level, it’s generally a fast and big drop.
3. The move may be exacerbated by the presence of a new swing high being found during the appearance of a new Lunar cycle (New Moon).
4. 360-day inner year Gann cycle -The GBPCAD pair is 357 days from the March 19th, 2018 swing high.
5. The outermost arc in the current law of vibration cycle creates powerful resistance here as well.
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personal notes: published 3/6/19 @ 1921.
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1st profit target hit, 3/4 position sold at profit. 225 pip.
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News is irrelevant - time if the cause for trend changes.