- a 15min downtrend in motion if you trendline from the bodys of each candle, price action is now retesting this trendline.
- a fibonacci proves that price action is now retracing off the 61.8% level
- break of countertrend line shows downtrend is confirmed
Initial 15min downtrend was previously pierced, but now it has been broken. A new 15min Uptrend is beginning. This will continue possibly until the 1 hour downtrend line already in motion. Notes:
- Buyers are pushing to break the 50% retracement point (bullish)
- Possible ascending triangle up to 50% retracement point (bullish)
- 15min Uptrend in motion with ...
Price action coming to a key area in USDCAD, looking for a break of the wedge , or a retest of the trendline , the 61.8% has been touched, price action is looking bearish .
Target could be the MPO from the top of the fib down to the lower wedge , this can be projected down.
Head and shoulders pattern finishing at the break of the neckline.
Bullish divergence showing on the 4 hour chart.
daily uptrend still in tact with higher highs and higher lows, keeping dow theory in tact.