Technical indicators support downside in the pair. Scope for weakness till 100-DMA.
Support levels - 1.7342 (cloud top), 1.7320 (trendline), 1.7227 (100-DMA)
Resistance levels - 1.7398 (50-DMA), 1.7440 (5-DMA), 1.7511 (23.6% Fib)
Good to go short on upticks, SL: 1.74, TP: 1.7320/ 1.7230
I find this strange.
We were a sponge when we were small. We liked to absorb new information and always thirsted for new knowledge.
However, this stops when we are grown. We think self-education is no longer necessary. We will rather go to the battlefield first and if we get hurt, we will come back to learn how to fight.
The courage tank is full but the...
Chart time frame - H4
Timeframe 4 - 16hrs
Actions on -
A – Activating Event
Market will meet resistance in zone @1.757 - .... and fall to the 1.736. In order to enter, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market move towards the first Target 1 level @...
FX:GBPCAD The price is on the 61.8% fibo retracement, GBP strength index is lower than CAD strength index and RSI line is being maintained in oversold. The price could reach 61.8xa to complete a gartley harmonic pattern or continue dropping to 161.8 fibo extension of second wave and 78.6xa fibonacci retracement