GBPCAD: Bracing for Bearish Wave 5
Cập nhật
Hello Traders,
Here is my current outlook on GBPCAD.
In our previous analysis, we effectively identified the initiation of Wave 3 or Wave C, and we entered the market at 1.70913. Presently, GBPCAD seems to be in the final stages of a corrective Wave 4. Provided that the existing resistance zone holds, we foresee a subsequent break of the trendline to the downside, potentially followed by a retest to confirm our directional bias (conservative approach).
Should this scenario unfold as expected, we expect an impulsive bearish movement within Wave 5, with a downside target of 1.62283.
Our invalidation level is at 1.6863, signifying that the projected scenario would cease to be valid if this level is broken to the upside.
Cheers!
Here is my current outlook on GBPCAD.
In our previous analysis, we effectively identified the initiation of Wave 3 or Wave C, and we entered the market at 1.70913. Presently, GBPCAD seems to be in the final stages of a corrective Wave 4. Provided that the existing resistance zone holds, we foresee a subsequent break of the trendline to the downside, potentially followed by a retest to confirm our directional bias (conservative approach).
Should this scenario unfold as expected, we expect an impulsive bearish movement within Wave 5, with a downside target of 1.62283.
Our invalidation level is at 1.6863, signifying that the projected scenario would cease to be valid if this level is broken to the upside.
Cheers!
Ghi chú
Since we got the trendline break, we are now +60pips in profit.Ghi chú
Since publication of this outlook, we have had over +110pips move in our direction. We expect further move to the downside as presented above, more than 300pips up for grasp. Đóng lệnh: dừng lỗ
Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.