An interesting example of simple symmetry playing out in USDCAD.
The important thing to notice is the proximity to the Big Figure 1.1000,
which could be thought of as minor equilibrium. The market may chop
around this level for a duration of time until the resistance is met where
my 'd' point is. This is taking into consideration the duration of time
that it should take for this retracement to last as well. The target will
push toward the low at the 'c' point if the analysis is correct.
The important thing to notice is the proximity to the Big Figure 1.1000,
which could be thought of as minor equilibrium. The market may chop
around this level for a duration of time until the resistance is met where
my 'd' point is. This is taking into consideration the duration of time
that it should take for this retracement to last as well. The target will
push toward the low at the 'c' point if the analysis is correct.