GBPCAD broke the previous Support, formed a crystal clear downtrend and came back to the Support turns Resistance.
Wait for price action and use indicators to look for entry point on lower timeframe.
Alert: This is a short position but price can be pushed up and may do a break out of our trend line.
Have a good week everyone and stay safe 🤞
Price currently retest the previous resistant, watch out for price ejection. Patiently wait for reversals to confirm before place the trade. Do not fear of missing out.
Spotted a hidden divergence. the trend will continue going up and react with the resistant. It was a strong support before price broke it and turned to a resistant. it ejected the resistant 2 times last week. Let's see...
Based on my analysis of 1D chart and 4H chart. As the price ejected and closed above trendline. There is a potential for going long for 400 pips and then the trend continue going down. Before that, I suggest that we wait for the signal of entry. This is a medianterm trade. Be patient and good luck guys
