GBPCAD: Perfect long?
Updated
Thanks to 'The working trader' for bringing this up.
This is my own take on this pair.
The chart shows the time at mode bullish setup I'm looking at for entry.
I suggest buying the dip if possible.
I'm seeing potential for a very large move to the upside, favored by an uptrending rgmov, completion of the downtrend signals in the recent decline reaching a 0.786 retracement of the previous rally, which looks like the retracement you'd get after an impulsive rally culminating in an extended fifth wave.
The fundamental landscape, paired with the multiple correlated markets influencing this currency pair make me rate this trade as too good to ignore.
Good luck!
Ivan.
This is my own take on this pair.
The chart shows the time at mode bullish setup I'm looking at for entry.
I suggest buying the dip if possible.
I'm seeing potential for a very large move to the upside, favored by an uptrending rgmov, completion of the downtrend signals in the recent decline reaching a 0.786 retracement of the previous rally, which looks like the retracement you'd get after an impulsive rally culminating in an extended fifth wave.
The fundamental landscape, paired with the multiple correlated markets influencing this currency pair make me rate this trade as too good to ignore.
Good luck!
Ivan.
Trade closed: target reached
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