GBP/CAD long.
Price retraced at fib 0.382 zone indicating a strong trend and potential bullish move.
Fibonacci extension tool used from most recent extension move - 1.272 level is a previous level of resistance.
H3HC would be used as entry candle and buy at market order placed 1 pip above H3HC candle.
R:R of 1.13. Stop loss placed below Psychological level...
Following the recent break down of the daily compression channel, although I think this could be a short lived move for the bears, there is a high probability that we will see that breakout retest zone hold some resistance.
There are two advanced ratio patterns completing at that level for an aggressive short for a quick one in and one out.
Good luck in the...
Hey Traders
Its been a minute since my last post and i just want to share with you a possible bear cypher on my radar this monday on the GBPUSD
things are not looking pretty for patterns lately but this is the journey of trading that we all expect and prepare ourselves for.
plan your trade, trade your plan
Cheers
There are multiple sign of a bearish movement that include :
- ABCD bearish pattern
- Closing Below a Resistance Level
- Hitting the Top of the channel
- RSI and Price Divergence
While I will have to see what the price open at on monday to make a proper entry I'm going to aim for a 2/1.
Entering around the middle of the channel which should line up with the 0.38...
