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             .
FREE Forex Live Trading Room: https://medianlinefx.com
SmilingSword
a year ago
Yeah nice view really agree on this
Reply
Fxprotrader PRO SmilingSword
a year ago
Thank you mate.. But i am not buying right away.. I will wait for that correction to be over...
Reply
IvanLabrie PRO
a year ago
I agree with shorting it, but not sure on the wave count.
Good luck!

Reply
Fxprotrader PRO IvanLabrie
a year ago
Actually i started counting after that corrective structure breakout. Wave five is truncated but still ok with me. Anyway thanks for your comment Ivan.
Reply
IvanLabrie PRO Fxprotrader
a year ago
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.
Reply
nice setup, wht's the sl for sell ?/
Reply
Fxprotrader PRO pathaniasourabh
a year ago
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.
Reply
SmilingSword
a year ago
Will it restesr to what point

Reply
Fxprotrader PRO SmilingSword
a year ago
Now it's ok to sell.. Smaller correction is over
snapshot
Reply
Piet.Hein
a year ago
Good luck ;)
Reply
Fxprotrader PRO Piet.Hein
a year ago
Thank you a lot..
Reply
Dougo222
a year ago
Nice man, how do you get the macd to look like that. Thanks
Reply
Fxprotrader PRO Dougo222
a year ago
Search for MACD 4C in the public library of indicators..
Reply
Piet.Hein
a year ago
Finally its going somewhere! :D
Reply
Fxprotrader PRO Piet.Hein
a year ago
That's true..!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out