GBPCAD - Kiss Of Death Completion; Counter-Trend Opportunity

Friends,

Here is a pattern worth considering, named "Kiss Of Death", or KoD for short, as defined in the chart.

Typically, the pattern is defined by a larger parabola exceeding the apex of a preceding, smaller parabola, reaching a value in the vicinity of a double-top relative to each parabola, but triple top when consider the two parabolas together.

As with any other pattern, the success rate of counter-trend event at the triple top is not 100%, but this one represents is worth adding into your armamentarium. As of this writing, price is nearing TG-1 = 1.85929, which represents a probable reversal level independent of that KoD, so taken together, there is added sense to consider a counter-trend reversal near that level.

As usual, this is all for educational purpose. Do not trade without doing your own due diligence.

Cheers,

David Alcindor
TradingView.com Moderator


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