MerlionFX | GBPCAD possible move
GBPCAD is currently trading in a bullish trend in an ascending channel. Last week, prices have risen and have touched the ascending channel trendline & tested the previous resistance twice, i am expecting this pair to rise further in the future to test the next resistance (1.714 levels).
Because RSI is overbought on the 4H timeframe and price has rejected previous resistance twice, the chances of it dropping from this level is highly likely. Hence, i will be waiting to enter a short position to take a nice ride down to retest the previous support levels.
Because RSI is overbought on the 4H timeframe and price has rejected previous resistance twice, the chances of it dropping from this level is highly likely. Hence, i will be waiting to enter a short position to take a nice ride down to retest the previous support levels.
Trade fermée manuellement
CLOSED +60PIPS
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.