Wave-Trader
Long

GBPCAD Triangle formation may form

OANDA:GBPCAD   British Pound / Canadian Dollar
Hi fellows, i was expecting short move on this pair. Although that move is about to complete. It seems to me that bearish move is not aggressive and may rise back to the upside again. Once price will hit the bottom i will look for long at bottom based on price action. If you are looking to buy on this pair please wait for the price to hit the bottom and look for price action before buying. No early entry please. I will try my best to update this idea on time. Thanks for your support fellows and good luck.
Comment: Hi fellows, Price is about to hit the bottom trend line i am watching for price action for buy setup. Here is the update.
Comment: Price hitting the bottom watching for price action closely.....
Comment: No price action is there watching it......
Comment: Impulse forming........
Comment:
Comment: Correction is underway Good Luck fellows......................
Comment: Keep eye on this fellows final fall expected on this pair before big move to the upside..........................!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Comment:
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Thank you for your posts. You are a great trader, I always follow you and appreciate your chart analysis.
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Very nice trade setup, thank you for sharing your idea. i have similar view on this pair as well.
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@Wave-Trader Hello, could you please give your views on USD/JPY pair too? Thanks in advance!
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Wave-Trader prshivanefx
@prshivanefx, I will update about that. That pair is in corrective mode and once it will be clear that either it is forming flag, flat channel or triangle or showing signs for reversal to the downside then there will be trade setup for big move either to the upside or to the downside. you can trade on lower time frame for small moves but big move is not ready into either direction.
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prshivanefx Wave-Trader
@Wave-Trader, Thank you for reply!!!
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Wave-Trader prshivanefx
@prshivanefx, My pleasures mate....
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good work..yes always good to await conform before buying. Would you look for a hammer on daily or a break of previous day high or how would you play entry please. tx Em
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@Emilio1, We watch for the impulse on lower time frame for confirmation.
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