Hello,Traders!
GBP-CAD has hit an EPIC
Resistance confluence
Of the strong long-term
Falling and horizontal resistance
Which means that the path up
Is blocked by now by a
Strong supply area
So a pullback from
The 1.6884 area
Is to be expected with the
Maximum target being
The area around 1.6585
Sell!
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Looking to short EJ around the confluence zone. -23.6 profit target, trendline, supply zone, Gartley completion, previous structure, ABCD completion, Stochastic overbought. Looks like a decent area to begin looking for a short.
-Mkt broke down to new lows and is now
retesting broken support zone
-Mkt testing confluence of 50 retr & structure
with RSI reaching overbought
-Aggressive short opportunity at 134.00 area
-More conservative short opportunity within
Bear Cont Zone with Stops 1atr behind the
139.00 invalidation zone
-Expectation is retest of low of trend around
128.50 and...
After breaking to new lows within downtrend
the mkt is retracing back to the broken support
zone with Fibonacci confluence offering a high odds
opportunity to short the mkt within the bearish trend
continuation zone.
Update on NZDUSD: Coming right into previous resistance which is typically a good way to look for a shorting opportunity. In this case the market gives us a bearish bat pattern at the 88,6 %Retracement from X-A. Moreover the Completion point D lines up perfectly with the 61,8 % Retracment from Swing High to Swing Low.
Targets and Stops as shown on the chart. ...
