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⋅ Traders!
Hope everyone has had a great and profitable week! The markets just keep getting better and BETTER!
Today, we have MAJOR confluence. I couldn't ask for more....well, maybe I could...
Here we have the USD/CAD on the 1D chart with a bullish AB=CD and bearish 5-0.
The trendlines add additional confirmation, given the strength of each reversal.
What we can really take away from this set up is not just where price will reverse, but adding the trendlines, we can predict WHEN.
As always, I highly recommend account management on all trades.
The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50
The measurements for a valid AB=CD pattern are detailed below.
C: 0.618 - 0.786
D: 1.272 - 1.618