Please zoom out to see the older downward slope. The technical analysis is based on this slope. Chart contains all info needed. Good luck guys
Median line analysis and Fib ratio's indicate that USDCAD can not close higher than last weeks high. Price is on the verge of breaking an Andrew's (gray) pitchfork that dates back to 09-04 and thus about to resume it's downward slope (blue pitchfork ) that dates back to 31-01. Expect price to form a double bottom with the lows from 08-05 before going up again....
Corrected, not a perfect fit on time and price points but I've attempted to follow the ratio as defined in the pattern rules and the pattern fits at least within the price action on this chart. www.tradingview.com Short term call. Looking for an upside down head and shoulders pattern that rhymes with the Three Drivers Pattern already on the chart. Need a price...
While not plotted off exact bottoms and tops, the Three Drivers Pattern now fits with proper ratio and within the price action of bitcoin. It is also not a perfect fit according to time as the second fractal is a shorter time frame than the first. After learning about how this drawing tool works, this is the best I can come up with to honor the rules....