GBPCAD-strong rejection from 0.61 fib

FX:GBPCAD   British Pound / Canadian Dollar
806 7 23
This pair is on clear downtrend, we can see the series of LH, LL forming.
Price made a last pullback to the 0.61 fib and found strong resistance there, suggesting the decline will continue.
We have also:

- bearish hidden divergence on MACD
- RSI trendline broken
- mutiple candlesticks rejecting the zone
- triple top with divergence (H4 chart)
- bearish shark (H4 chart)

Best regards.

Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Follow me on Twitter for updates: @fxtrader2000

I have been following up on this, are we still trading this? it seems its breaking above even though there isn't much support above.
FullTimeTrader SrikanthRaj
Hello, the trade is still valid. Now we have a double top with divergence, also a sell signal, regards.
Thanks for sharing this great trade! Totally agree. I will be in the trade until Thursday, I don't like to trade among the news. Have a nice day, and thank you again for your work!
Nice. My Short-Term View:
Good setup, price is already breaking last trendline. Regards.
Nice trade as always! Don't you think it is a little bit risky open this trade with Thursday 5th Bank Of England meeting?
+2 Reply
FullTimeTrader HermannHesse
Hello, you are right, trading is rarely perfect, there is always a BUT to consider. We have two days left, we can open the trade now and depending on each trader close all positions, move SL to BE or take partial profits before the news. Regards.
+3 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out