At this point of writing, GBPCAD seems to be at a support turned resistance level at around 1.6785. There could be an opportunity to short now, but the stops will have to be above PtX
Pattern Identification
Based on Harmonic pattern trading, the PRZ shows a higher level at 1.6540/55 levels.
This could be another test higher as the RSI is not at the ideal overbought levels
Trade execution
I would prefer to enter at a better price at the PRZ. Will want to look for a reaction at those levels before entering
Pattern Identification
Based on Harmonic pattern trading, the PRZ shows a higher level at 1.6540/55 levels.
This could be another test higher as the RSI is not at the ideal overbought levels
Trade execution
I would prefer to enter at a better price at the PRZ. Will want to look for a reaction at those levels before entering
Comment:
Looks like GBPCAD was resisted by the 1.6785/1.6800 zone this moment
Order cancelled:
Price did not get up to my entry zone, did not take the trade
