GBPCAD Game Plan
Updated
Looking at the last move on Friday, there was some selling pressure but it was not enough to show an impulse so we can't conclude that this is a sell opportunity.
Monthly View
Market seems trying to create a lower high which is lower than previous lower high
Daily View
Price at the middle of nowhere , look left , there is no evidence of significant reaction to this price level, so we assume that no reversal as yet
4 Hour View, Uptrend still intact, no support broken by the last move
Game Plan, Look to sell for retest of Friday High, if broken , our aim is to extension of 2.618 where we can look left and see some reaction.
If that happen we look for support turn to resistant.
In conclusion, I assume this is a pullback where market will aim for retest for weekly high or to complete the fibo extension 2.618.
let see what market will do. I will look for long opportunity until I see a retest or significant level
Monthly View
Market seems trying to create a lower high which is lower than previous lower high
Daily View
Price at the middle of nowhere , look left , there is no evidence of significant reaction to this price level, so we assume that no reversal as yet
4 Hour View, Uptrend still intact, no support broken by the last move
Game Plan, Look to sell for retest of Friday High, if broken , our aim is to extension of 2.618 where we can look left and see some reaction.
If that happen we look for support turn to resistant.
In conclusion, I assume this is a pullback where market will aim for retest for weekly high or to complete the fibo extension 2.618.
let see what market will do. I will look for long opportunity until I see a retest or significant level
Trade active
As I anticipate to be a bull, this is first trade I take
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