An update to my USDCAD chart of a week ago (Oct23rd)
Comment.
1. Price fell a little further than I thought but reversed today to nearly touch the outer fork line.
2. It wasn't a perfect Gartley pattern but combined with a few other technical and fundemental factors this reversal was strong and quick.
3. Looking for a perfect Gartley is like finding a perfect hedge which only exists in a Japaneese garden.
4. The original target was adjusted slightly downward as the CD range expanded; the initial target is usually ,618% of that range.
Cheers,
S.
Comment.
1. Price fell a little further than I thought but reversed today to nearly touch the outer fork line.
2. It wasn't a perfect Gartley pattern but combined with a few other technical and fundemental factors this reversal was strong and quick.
3. Looking for a perfect Gartley is like finding a perfect hedge which only exists in a Japaneese garden.
4. The original target was adjusted slightly downward as the CD range expanded; the initial target is usually ,618% of that range.
Cheers,
S.
3