GBPCAD on a lower low move? 🦐
GBPCAD pair is currently in a downtrend, with a series of lower lows and lower highs on the 4-hour chart.
The market tested a previous higher low and rejected the bulls' attempt, and the price is currently trading above a daily support level after testing a supply zone.
The Perice attempted to break a 4-hour resistance level during the last bullish move but was ultimately rejected. This could suggest that the bears are still in control of the market and that the downtrend is likely to continue. However, it's important to keep an eye on the price action and watch for any potential signs of a reversal or a break above the resistance level to confirm a shift in market sentiment.
If the price breaks below the structure, it could indicate that bears are still in control, and there may be opportunities for a short order based on Plancton's strategy.
The market tested a previous higher low and rejected the bulls' attempt, and the price is currently trading above a daily support level after testing a supply zone.
The Perice attempted to break a 4-hour resistance level during the last bullish move but was ultimately rejected. This could suggest that the bears are still in control of the market and that the downtrend is likely to continue. However, it's important to keep an eye on the price action and watch for any potential signs of a reversal or a break above the resistance level to confirm a shift in market sentiment.
If the price breaks below the structure, it could indicate that bears are still in control, and there may be opportunities for a short order based on Plancton's strategy.
Comment:
new test of the support area
Comment:
a series of lower eyes and equal lows, possible triangle