OrcChieftain

Interesting double tops and bottom in the past days on GBPCAD

Education
FX:GBPCAD   British Pound / Canadian Dollar

I highlighted a key area with a purple rectangle. It appears GBPCAD has enjoyed creating this double top/bottom pattern in the last few days.

►In the second and third-fifth of the London session, the price breaks out of the Asian range (yellow) and created top.
►Before the start of the New York session, the price starts to retrace back to the Frankfurt opening range (green). This happened 3/4 times here, once, it went back down only a couple of candles.
►New York session, in the first half, another top/bottom is created. In 3/4 cases, it created a final top on 1* extension of the Asian range (orange line). If we use the average Asian Range, it will be 4/4 cases.
► In 3/4 cases, the New York extreme price was higher than the London extreme price.

Now, it is time to look for more examples.

That's all I wanted to share. Have a good day!


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