$EURCAD | Gwaves Detected | Target Area Defined
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Hello Traders, Friends, and others,
EURCAD has struck a force field in the Gwave world that will send price tumbling down towards the Target Area (green). This is more of an observational trade.
Best,
Sirak Babayan
EURCAD has struck a force field in the Gwave world that will send price tumbling down towards the Target Area (green). This is more of an observational trade.
Best,
Sirak Babayan
Nota
If you enjoy the Gwave World. You can follow it(me) at the links below. Apart from charts, I say cool things sometimes.Facebook: facebook.com/GWavesOfficial
Twitter: twitter.com/GWaveOfficial
Stocktwits: stocktwits.com/GWaves
Nota
Zooming in to the H4 chart we can see how price remains subdued to the Red G wave. I is as if this circular level has a magnetic field around it that constantly pushes price away from it.More updates to come as they develop.
Nota
Update: As price continues to want to push higher, it is rejected by the strong field it is bound to (red line). At this point I'd look for price to continue to test this level and make lower lows eventually reaching its Target Area defined in the chart.Nota
Update: EURCAD at a crossroad.Nota
Update: EURCAD tested the hidden support level mentioned in the previous update and has now broken out of and tested its overhead resistance. At this point we must look to the next level of Resistance highlighted by the outer most wave.This does not necessarily invalidate the original idea of a short, but it does give us the potential of changing the original target. Updates will come as this chart develops.
Nota
Price reached level of resistance. A fall from here is likely, a destination is to be determined.Nota
Since you asked for it. Here is the target.Nota
Update: The exact target above was not hit, however, once price hit the Gwave support level it sprung up. Now we face resistance. A breakout of this current resistance level will be very bullish.Nota
Nota
Target hit. Expect rally to occur from this point.Nota
Since the last update Resistance has clearly been made and price has stayed on track on its way to the "Target Area"
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