USCAD I think more significant one was the patter before the current one which is "crippled" dual diagonal diamond and current one looks like a triangle.
GBPGPY have not been able so far brake march high and daily weekly move is down. On the downside visible gap 142.34 on the upside is the flat TL with multiple touches and targets with targets at 163.80 and gap at 191.46 the only question is sequence of moves down up or UPUPUP
EURAUD is at the decision point MMY down if MMM changes to down next target trend line and below is the gap maybe that is where this is heading perhaps in couple of years until then it has to chop a lot of levels
Diamond on intrday inside the channels are good continuation patters, Most of the time price will push out of established channel lines and later diamond borders will become good reference points just like it happened yesterday on USDCHF and as a second example in the past on AUDUSD but many examples can be found. This is my home work for today hope we will hear feedback and new ideas from Maestro himself.
USDCAD looks like candy and IW template might be offered with breakout to the north. {image}
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Recently we have flat surface on top. According to data feed Main move of the month has been changed to UP, but I am not confident with that very much. Anyway IW template today was offered.
USDCAD (https://www.tradingview.com/symbols/USDCAD/)has made 128 pip monthly range and flat surface. Typically USDCAD (https://www.tradingview.com/symbols/USDCAD/)average monthly range is about 400 pip therefore monthly extension is natural. Considering that we have flat surface above and breakout is imminent, extension most likely will be to the north reaching out minimum targets.
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Joined Dec 2006
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frankly speaking more often than not I prefer to ignore potential diamonds and diamond like formations if they appear on the short-term intraday charts... larger ones are certainly preferable because of the huge profit potential and very low failure rate...
Mr. Igrok, would you consider this formation as a diamond ? {image}
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My only guess for this issue is that end point between 146.920 and 147.140 of last upward move almost match the high of main diagonal of whole formation thus canceling the diamond.
EURJPY dimond in making since years with main diagonal to up. Expectations to brake lover right border which has 3 touches already and to complete the year range with gap closing 112.96 and below that at 111.23. At this time MMY is to the up and pair is trading close to year open price and actually closed the gap at 124.36 today.
NZDCAD has clanged MMY to down, weekly also on a downtrend with less than half of its trading range lets see if extension will fallow on last trading day of the week to complete both monthly and weekly averages.
frankly speaking more often than not I prefer to ignore potential diamonds and diamond like formations if they appear on the short-term intraday charts... larger ones are certainly preferable because of the huge profit potential and very low failure rate...
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Do you have time to are your views bout the S&P500?
Igrok Method. Q's & A's. Comments, thoughts and ideas
