FX:GBPCAD British Pound/Canadian Dollar
I would like to start off by saying that I removed the Primary MIDAS R1 Curve as it cluttered the chart and have already done its job in regards to the analysis above, however it successfully captured the initial pullback. On the chart above a T.D price flip have competed in oversold conditions at what looks like to be the end of wave 3, as there is a huge to the upside in oversold conditions as well. I am currently awaiting price to pullback to the MIDAS R2 channel which have to be followed by conformation before going short. A conformation can be many things, one simply have to wait and see what the scenario is as price pulls back to the curve and its reaction to it. One can also add a Top Finder to try and predict the top/end of wave 4. Lets see how things line or not line up as the analysis unfolds. I will try to remember to post updates on this analysis together with setup, entry and stop loss. Don't forget to give the analysis a thumbs up if you agree and make sure to follow to keep up-to-date on the unfolding.
MIDAS Trading Tools for MT4 is available to download at https://www.mql5.com/en/market/product/17546#