GBPCAD - 4HR - Bullish BAT - Long

10 janv. 2017

GBPCAD 4HR, looking for 300+ pips here.
The pattern is complete however.....

A correctional trade in a bearish Channel, possible double bottom if we venture down on a DIV play
We are well oversold, so again I will be waiting for RSI to ease off and not enter the trade early, we are already seeing some form of consolidation or a pause, a day or when its ripe, I will take the trade.

Its a long play for many pips, lets wait for confirmation on RSI moving back to normality and retesting oversold on the 70, if we see divergence there, we will have a better entry than right now and the trade will have momentum.

13 janv. 2017

Note

We are still in oversold, RSI has not rolled over for a sign of entry.
This is why I mention Divergence is key, as RSI can sit in oversold or bought for days, weeks and price not reverse.

Still waiting pattern has not failed