Looking on the 4 hour chart, GBPCAD has been selling off since Christmas Eve (24th December). We are currently trading in a significant support zone, which has been respected twice.
I think a short term buy position is a potential, using the Stochastic indicator and the Resistance Zone which are marked on my chart.
However, we will be swing trading a Short position as the market follows the descending trend.
Let me know your thoughts!
@newgenforex in all social media platforms.
I think a short term buy position is a potential, using the Stochastic indicator and the Resistance Zone which are marked on my chart.
However, we will be swing trading a Short position as the market follows the descending trend.
Let me know your thoughts!
@newgenforex in all social media platforms.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.