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ard3413
May 4, 2016 4:01 PM

GBPCAD Long term outlook; wave B is starting (weekly) 

British Pound/Canadian DollarFXCM

Description

This is a long term outlook of GBPCAD.
Now we are in correction and A wave of an ABC corrective phase is about to over.
We are going for a B wave to upside; but it won't be an impulsive and sharp move, it will develops in a corrective manner.
This long term outlook leads me to several trades in lower time frames.
I will post updates below this post, whether the pattern acts differently and changes itself, or continue to the anticipated direction.

Comment

Daily: note the divergence and equality rule.

Comment

4H view:

Comment

This can be end of correction, so buying after break out can be a good trade idea
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