Here we have GBPCAD, price has been putting in higher highs and higher lows, showing a bull market.
Price broke out the bullish trend line in September.
Since price has been rejected by the 38.2% retracement and 1.98 support. (Higher Low?)
Looking for price to break above 2.03 for any long positions.
If price breaks the counter trend line, then we are likely to see price return to 1.98 and possibly further downside.
Possible Risk Reward shown.
Use analysis in conjunction with your own bias.
Price broke out the bullish trend line in September.
Since price has been rejected by the 38.2% retracement and 1.98 support. (Higher Low?)
Looking for price to break above 2.03 for any long positions.
If price breaks the counter trend line, then we are likely to see price return to 1.98 and possibly further downside.
Possible Risk Reward shown.
Use analysis in conjunction with your own bias.
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.
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.