GBPCAD is trading in a local bearish trend.
on friday 4H structure resistance was reached and from that, we expect a bearish continuation.
the price formed a double top with a lower high formation on 1h, confirming the strength of 4h structure and
now we are looking for a bearish violation (1h close below) of its minor support 1.735.
as soon as the above mentioned condition is met we can initiate a sell order.
depending on the desired r/r you can sell aggressively or on retest.
our goals:
1.7312
1.7265
if the market closes above the current 1H structure high, setup will be invalid.
good luck
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✅Join My Telegram Channel: t.me/VasilyTrading
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✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
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⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
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.