TF: 4h
GBPCAD is initiating along opportunity by completing 4th intermediate wave at 1.83464. We can expect a retracement then reversal with near the lower trendline of the parallel channel.
Once price comes down, we will have the opportunity to go long with minimum stop level at low of the wave 4 at 1.83640. The bullish scenario is capable GBPCAD to provide 1.8654 - 1.8748 targets to the buyers.
If the breakdown occurs, wave (4) will go deep. We update this chart time to time. Traders should only buy after a clear reversal.
GBPCAD is initiating along opportunity by completing 4th intermediate wave at 1.83464. We can expect a retracement then reversal with near the lower trendline of the parallel channel.
Once price comes down, we will have the opportunity to go long with minimum stop level at low of the wave 4 at 1.83640. The bullish scenario is capable GBPCAD to provide 1.8654 - 1.8748 targets to the buyers.
If the breakdown occurs, wave (4) will go deep. We update this chart time to time. Traders should only buy after a clear reversal.
Trade active
Rejected from the wave B level, be careful in having long without clear sign of reversal.Trade closed manually
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Join telegram channel: t.me/moneydictators
For Premium Research and Elliott wave Guidance: t.me/warlockmd
For Premium Research and Elliott wave Guidance: t.me/warlockmd
Related publications
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.