Look for trade opportunities on the H4 Chart, H1 Chart, on M30 Chart. Particularly, look for a series of lower highs for a sell. Look for lower highs moving into a support level. And for price to break and close below support level. Then support level will turn resistance after the close.
In this example, GBPCAD broke and closed below trendline support. GBPCAD retested support turned resistance level with pin bar / rejection candle. After the pin bar / rejection candle formed, price dropped.
The Target Price will be the next support resistance level which is 1.69656.
In this example, GBPCAD broke and closed below trendline support. GBPCAD retested support turned resistance level with pin bar / rejection candle. After the pin bar / rejection candle formed, price dropped.
The Target Price will be the next support resistance level which is 1.69656.