Three Drives
short position on USDCAD 2 previous advance patterns completed. I am still in the trade on the blue short cypher pattern.
I believe the market will rally to the blue box area and terminate around 0.3039s. There is a Fib retracement of 0.382 in that area. Then market will reverse and continue short terminating at 1.2850s completing a 3 drives pattern. 3 drives completes at a major support level which has been tested 3 times already.
USD/CAD H4 - Short setup - ABCD pattern / 3-D pattern projectionPrice will pressure channel resistance and bear divergence suggest that the price is about to fall and retest daily support at 1.2720
I’m just waiting for reversal bar pattern inside PRZ to consider a short position.
On H1 chart, it looks like the price will retest near resistance at 1.3059 before downtrend starts (bull divergence is present).
EUR/JPY D1 - Possible short setup - ABCD patternPrice will be pressure channel resistance, will see if a new bearish ABCD pattern can be develop or the price will continue high for a Wolfe wave pattern...
I'll be watching if the price hits the PRZ box and bear divergence + reversal bar pattern presents itself.
My view on H4 chart: Bearish Shark and 3-drive pattern in play