GBPCAD: Topping this month

GBPCAD: Topping this month


Watching this pair closely since I spotted what looks like a very significant top area, both in time and price.
It’s possible that GBPCAD will form an ending diagonal triangle and give us a great short opportunity in the coming weeks. The daily and weekly uptrend signals point to a top between the 9th and the 24th of July.
It’s also interesting to note that there’s significant divergence in multiple timeframes, and the levels obtained with time at mode, linear regression channels, fibonacci extensions of wave 1 of this leg and a previous downtrend quarterly/monthly mode overhead resistance all match.
If this analysis proves to be correct, we will get a great short opportunity.
Will update with an entry.

Cheers,

Ivan.

Source:: GBPCAD: Topping this month

Won't your trader friends like this?
TradingView
About the Author
TradingView's mission is to give investors an efficient and effective way to find trading ideas from other individual investors. Why is that important? Because combined knowledge of individual investors, like you, is on average better than insight from famous analysts on Wall St. We have seen it again and again when experts talk a lot and have no clear direction. Visit our website HERE

Related Posts

Leave a Reply

*