Fxprotrader
Short

GBPCAD Sell Opportunity After Breakout

FX:GBPCAD   British Pound/Canadian Dollar
380 15 13
Price has completed a five wave up move which ended with a sharp move to the down breaking the trendline acting as support to this five wave move. As we can see in the chart price has also retested the broken level and is about to sell off. A divergence with MACD supports my thoughts for going short with GBPCAD             .
Yeah nice view really agree on this
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Fxprotrader SmilingSword
Thank you mate.. But i am not buying right away.. I will wait for that correction to be over...
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I agree with shorting it, but not sure on the wave count.
Good luck!

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Fxprotrader IvanLabrie
Actually i started counting after that corrective structure breakout. Wave five is truncated but still ok with me. Anyway thanks for your comment Ivan.
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IvanLabrie PRO Fxprotrader
Looks like a terminal impulse if anything and those can end in any corrective pattern, even a triangle...(for neowave rules at least).
I don't do EW on oil or Cad though.
Let's see how low it gets!
Cheers.
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nice setup, wht's the sl for sell ?/
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Fxprotrader pathaniasourabh
Thank you.. We have to wait for a correction to be over with a new breakout. Then you will place your stoploss above the previous swing point of your correction. If you want to sell now place your stoploss above wave 5.
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Will it restesr to what point

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Fxprotrader SmilingSword
Now it's ok to sell.. Smaller correction is over
snapshot
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Good luck ;)
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Fxprotrader Piet.Hein
Thank you a lot..
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Nice man, how do you get the macd to look like that. Thanks
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Fxprotrader Dougo222
Search for MACD 4C in the public library of indicators..
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Finally its going somewhere! :D
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Fxprotrader Piet.Hein
That's true..!
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