Possible bull breakout in the GBP/CAD.
GBP/CAd continues to trade within the longer term range but shos signs of divergence. If it continues, it'll seem as though the pair is trading within a pressure cooker environment waiting for a big breakout either to the downside or upside.
For now however, we're simply looking to trade the lower timeframe breakout above the S&D we are currently trading above. Wait for a price retest to come back down into the level before it heads on its way to the upside. Only look for your entry triggers in this once the retest has officially taken place.
The retest confirms the move.
GBP/CAd continues to trade within the longer term range but shos signs of divergence. If it continues, it'll seem as though the pair is trading within a pressure cooker environment waiting for a big breakout either to the downside or upside.
For now however, we're simply looking to trade the lower timeframe breakout above the S&D we are currently trading above. Wait for a price retest to come back down into the level before it heads on its way to the upside. Only look for your entry triggers in this once the retest has officially taken place.
The retest confirms the move.