Let's see... Price is now in a bullish trend. Remember that doji on april 10th?, price went up and reached the 1.272 fibonacci extension from initial swing and also a round number as resistance (1.5000). Then we realized MACD divergence and price retraced almost 600 pips to 1.4400 aprox. acting as support. Then a few bars of indecision to finally continue to a new high 1.5159 (tuesday, may 5th high -today-) but it seems that this is a incecision day as well, so what could happen next?
That's a good question. Stochastic is still showing a bullish trend and price seems to react in a trend channel, so price targets could be between 1.5325/1.5430 and more than likely 1.5352 Today's bar, as a indecision candlestick, make me wonder if price will retrace from now... I'm not sure, Do we have still divergence on MACD? It seems that we have. As counterpart, stochastic is not overbought, yet, so we have room a bit more to advance. My time bands are telling me that a change could happen on May 11th also time extensions, and that coincide with the trend channel. Stochastics on a weekly chart are still pointing up so price should upscale a little more to targets, then retrace.
The alternate scenario would be a downtrend starting tomorrow (wednesday, may 6th)... maybe a Gann pullback?
Another interesting pair right now, USDCAD seems so nice to go long... should I jump in? I hope not regret any decision
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Changing subjects. Uncertainty in my life... What should I do? There is a song that says... as more people I know, The most I love my dog... Is there still hope? Sadly I'm arriving to a dead end. There are questions that I don't have an answer for... Why you get up in the mornings? What is your motivation? Why to continue?
