CADCHF: Some weird squares on a chart Panjang

Canadian Dollar/Swiss FrancFXCM

Huraian

⋅ 2 Feb 2017 pukul 00.39

Hi traders,

On the CADCHF I have used the "Date and Price range" tool to show the market movement. We can see that the square on the left took 2 day and 3 hours to gain 161.9 pips. Then it took 6 days and 9 hours to go down for just 97.7 pips. What does this mean? Bulls appear to have the upper hand.
The square on the right is a copy of the left, so basically an AB=CD pattern.

Cheers

Komen

NewsFilters

⋅ 2 Feb 2017 pukul 20.42

Does this also have effect on major pairs such as EURUSD?

Cheers.

taksistalo

⋅ 2 Feb 2017 pukul 00.42

That's pretty cool way to look at the market =) Maybe another check before take the trade of AB=CD pattern. Thanks for sharing

11021992

⋅ 2 Feb 2017 pukul 00.44

@taksistalo, Hehe, cheers! And you're welcome!
Adding Fib Time Zone makes it even more interesting.

TraderSC

⋅ 2 Feb 2017 pukul 00.56

@11021992, Wow those are interesting tools, thanks for sharing the concepts and your analysis. Looking forward to the results.

11021992

⋅ 2 Feb 2017 pukul 00.58

@TraderSC, Thank you! Yep, let's see how it works out. I have to admit that it looks pretty interesting haha.

Lebih