GBPCAD - I will be watching for a rejection candle between 1.76600- 1.77800. Most traders will set up a buy as it looks like the channel will be broken. However i believe that this is a bull trap.
If there is no rejection at this zone, and price print a big bullish candle closing over this zone then this will indicate a bull run.
If there is no rejection at this zone, and price print a big bullish candle closing over this zone then this will indicate a bull run.
Note
STILL WAITING ON CONFIRMATION FOR A SELL WITH IN THE 1.76600- 1.77800 PRICE RANGENote
entry for this set up is at 1.75550 for a sell.
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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.