GBPCAD, short to buy to short? how deep is your love?
"how deep is your love"?? that calvin harris song?? no one?? okay. anyways lets get on with it
with the recent pound short across the board, its time for a breather right, well almost.
see price has resumed its bearish continuation, i'm talking overall, like the monthly trend n stuff like that, but, the last two weeks has seen price rejecting one interesting level in particular, the second lower trendline bounce of the prior bullish liquidation state, confusing i know, stay with me.
since this is just an idea publication and not a tutorial or anything like that, ill go straight to what 'may happen next" see in such circumstances, we expect a 61.8\38.2 retracement of the prior move depending on how you place your fibs. and m not a fib guy like at all to be honest, however it makes one sleep better knowing its an added confluence indication., which is is exactly where my daily retest and short entry and my yellow sun thingy is on the chart.
the first short is not so much guaranteed, but it was recommended by the daily closure on friday rejecting daily resistance, recommending a magnetization of price one more time before rocketing to look or 61.8/38.2 /yellow sun on chart, at which point, its a short and hold to monthly level and exit.
with the recent pound short across the board, its time for a breather right, well almost.
see price has resumed its bearish continuation, i'm talking overall, like the monthly trend n stuff like that, but, the last two weeks has seen price rejecting one interesting level in particular, the second lower trendline bounce of the prior bullish liquidation state, confusing i know, stay with me.
since this is just an idea publication and not a tutorial or anything like that, ill go straight to what 'may happen next" see in such circumstances, we expect a 61.8\38.2 retracement of the prior move depending on how you place your fibs. and m not a fib guy like at all to be honest, however it makes one sleep better knowing its an added confluence indication., which is is exactly where my daily retest and short entry and my yellow sun thingy is on the chart.
the first short is not so much guaranteed, but it was recommended by the daily closure on friday rejecting daily resistance, recommending a magnetization of price one more time before rocketing to look or 61.8/38.2 /yellow sun on chart, at which point, its a short and hold to monthly level and exit.