GBPCAD - Double Bottom
Updated
I'm looking the new long entry setup if price stay above support level near double bottom.
Wait for possible retracement and new reversal candle formation.
Possible harmonic pattern to finalize the D point of XABCD. I do not draw the harmonic pattern as I don't know the right target of fibo number.
Wait for possible retracement and new reversal candle formation.
Possible harmonic pattern to finalize the D point of XABCD. I do not draw the harmonic pattern as I don't know the right target of fibo number.
Note
GBPCAD drop heavily as impact of good news for CAD.It's in line with retracement level at 1.6180 (green fibo line).
Double bottom pattern is void.
IMO, no good setup for long entry can be made this time.
Maybe a possible short entry when price retraced to 1.6000.
To look for new TA position.
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