Analyzing the CADGBP, instead of GBPCAD, I identified a first interesting resistance area 0.6084 as the possibility of short (long on GBPCAD) and a second area (from the mathematical point of view stronger) at 0.6138.
I will not calculate the corresponding value on GBPCAD as the two pairs are misaligned.
All the Highs indicated on the graph are linked together by a mathematical relationship that leads to the indicated levels.
I will carefully look at these areas looking for areas of weakness in the current trend for an entry.
Note how the first level found coincides with 1x1 Fibonacci while the second coincides with 0.786 ret
If you try to calculate 1x1 fibonacci on GBPCAD, this was already broken.
I will not calculate the corresponding value on GBPCAD as the two pairs are misaligned.
All the Highs indicated on the graph are linked together by a mathematical relationship that leads to the indicated levels.
I will carefully look at these areas looking for areas of weakness in the current trend for an entry.
Note how the first level found coincides with 1x1 Fibonacci while the second coincides with 0.786 ret
If you try to calculate 1x1 fibonacci on GBPCAD, this was already broken.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.