Hey Modo,
It’s definitely short in time, but also the impulsive waves could not be over yet. If you want to trade it, find more important confluences at that point (pivots, support/resistance lines, divergence, etc.)
Take a look at the upper trendline, if pattern completes at that line, that would be another sign of good resistance at that point. 
Ok, thanks for the input.
Hey Modo!
Take a look at this pattern, this one makes more sense to me, and it’s right at the same convergence as your pattern, and on time. 
What do you think
Yes, I tried that X but got a 20 pip divergence. I guess that’s ok given the daily timeframe, and the symmetry of your pattern is way better.
But I think I would be more comportable selling the higher D, after a break of the high around 143.55. Maybe this is just superstition about stop tagging.
Either way, it’s good to know there are additional convergences in that area so thanks for passing it on. I will definately be watching price action in that area.
Just finally, the Yen is under a lot of pressure, maybe buying it is swimming upstream. If I was to do so it would probably be against cad. Is this pattern any good, I posted it on 30 pips. Although it looks like a breakout on the daily, I thought it might mark exhaustion of the correction when viewed on a weekly/monthly basis.
Thanks for your help,
Modo.
I agree with you, even though the pattern in its best symmetry is presented with the lower X, I’d go with the higher convergence, it’s tighter, and it gives sense to the whole pattern. In this case I think the key level is the 127 CD fib level.
I’ll be taking a close look at this pattern.
interesting…looking to learn more
