1. Monthly, ICI ( Bullish ) 2. Weekly, Rejection ( Bullish ) 3. Daily, WAIT for retest of structure ( wait ) 4. 4H, Environnement is ( Bullish ) 5. Already retest Trendline so Carefull ( Bearish potentiel )
1.43000 is the biggest rejection zone of EURCAD. We printed a W formation a Weekly Retracement to the neckline but before i need a retracement to structure zone on daily to have a proper risk to reward
All major time frame are bullish waiting on intraday time frame to bullish after the retest of major structure risk 3/1
That's a full breakdown of why we have high probability of a bullish market
English is not my first language sorry we will see a retracement before seeing more down side on GBPCAD
We have a good price action and a good ratio of 3/1 I have to say its not the best setup ever, but I will just lower my risk instead of 3% I will do 1%
We are end of september so the new monthly Candle is coming. On the MONTHLY we are heading down to a big zone 1.60000 historical level , but before we have big probability to do a retracement on the Weekly. WEEKLY , we have print a double top ( M ) so we have good probility to see a retracement to the neckline. On the DAILY we also printed a W formation....
and if breakout it's gonna be a rocket almost 80-100 pips