Previous Support Becomes Resistance

FX:EURCAD   Fx Euro/Dolar Kanada

Hey guys,
some simple price action analysis here. On the daily timeframe price is going to retest previous support that once broken should become resistance. On the lower timeframe (4h) we can see some different clues pointing in the same direction: first, a butterfly pattern that's completing very close to the structure (black line), second, a .618 and a .382 fibonacci retracements, third, an AB=CD pattern that's completing just a bit above the black line.
So, what i would do is wait for price to enter the blue zone and see what's the price reaction to that level, while looking for some weaknesses signals, in order to sell at market.
I'll keep you updated.

If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
Komen: Price is in the reversal zone
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano:
Ultimo video:

If you agree, like this chart! Thanks
My last (english) videoanalysis here:
has this now been stopped out ??
Roker1 PRO tonyferrino
Hey @tonyferrino, i didn't enter the market yet. I'm waiting to see the price's reaction.
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