GBP/CAD SHORT OPPORTUNITY
Price Action (Technical Analysis): After completing what we see is a Major Downtrend, we expect to see price correct itself after sellers began taking profit massively after a break and close above previous level of structure. I'd like to see Price in the hourly time frame retrace 61.8% before expecting higher highs. In the meanwhile we should let price accumulate and make it's way to our ideal Short Entry, trading corrections and impulses back-to-back is a bad habit of retail trading.
Fundamental: Upcoming week we have a lot of Major News dropping, we cannot expect Price Action to be our only confirmation as to where price goes. Red Folders of either currency can affect this pair, also not forgetting correlation to this pair. This means Trading the Correction we expect when the Market opens is like Trading with a blindfold on or like playing Russian Roulette. We wait patiently...
Fundamental: Upcoming week we have a lot of Major News dropping, we cannot expect Price Action to be our only confirmation as to where price goes. Red Folders of either currency can affect this pair, also not forgetting correlation to this pair. This means Trading the Correction we expect when the Market opens is like Trading with a blindfold on or like playing Russian Roulette. We wait patiently...
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