Despite the Bullish Engulfing Candle last week I do not believe GBPCAD is ready to come up Just Yet. - We are on the Second A here - Each Push is similar in the amount of pips its going to move. -So we've still got a little room to push down before Bulls Take over. - In a Clear MAAW. Market looking to complete cylce from last week
We've got an inside candle on the daily. Very Rarely Do inside candle produce counter trend movement, so Im going to stick with my friend - the trend.
Price has already started to make its move. Looking for a 61. 8 Re-tracement to catch the movement. Stop- Loss about 60 pips out.
This is my analysis and a technique I am forward testing so do your own analysis as well.