USDCAD H1: The Chaos Theory Forecast for the European Session at 26.11.2024
26.11.2024 09:16
Technical
First of all, let's examine the first market dimension which is a key point in determination the further strategy of behavior of a trader or investor within the framework of Bill Williams' strategy. The price has risen above the upper fractal on the current chart. This defines the phase space as northern. It may indicate the formation of an upward movement. To assess its potential, the signals from other market dimensions should be examined.
The Alligator indicator confirms the positive market sentiment. The Alligator's mouth is open. It's hungry. Against this background, the price may continue to rise.
The AO indicator is still above the zero mark.
At the same time, the AC and AO indicators turned red. This signals that the strength and energy of the upward impulse have deceleration. This may lead to the development of a deeper correction or a change in trend. However, the northern movement scenario remains prevalent as long as the price remains above the red Alligator line.
The histogram of the Gator indicator has not formed a clear signal yet. The color of the histograms changes, indicating a change in market phase.
A series of red bars is drawn on the Gator indicator. This signal shows the formation of a correction.
As a result, there is a northern phase space. At the same time, some indicators indicate the possible development of a pullback movement or the transition of the market to a new phase.
📊 Buy Stop 1.41162
❌ Stop Loss 1.40042
After entering the market, Stop Loss is carried along the red line after the closing of each candle. The profit is fixed by moving Stop Loss, or when opposite signals appear on the AO, AC, Gator indicators.
The Alligator indicator confirms the positive market sentiment. The Alligator's mouth is open. It's hungry. Against this background, the price may continue to rise.
The AO indicator is still above the zero mark.
At the same time, the AC and AO indicators turned red. This signals that the strength and energy of the upward impulse have deceleration. This may lead to the development of a deeper correction or a change in trend. However, the northern movement scenario remains prevalent as long as the price remains above the red Alligator line.
The histogram of the Gator indicator has not formed a clear signal yet. The color of the histograms changes, indicating a change in market phase.
A series of red bars is drawn on the Gator indicator. This signal shows the formation of a correction.
As a result, there is a northern phase space. At the same time, some indicators indicate the possible development of a pullback movement or the transition of the market to a new phase.
📊 Buy Stop 1.41162
❌ Stop Loss 1.40042
After entering the market, Stop Loss is carried along the red line after the closing of each candle. The profit is fixed by moving Stop Loss, or when opposite signals appear on the AO, AC, Gator indicators.