Talking about complex structures, this is the evolution of GBPCAD. There has been an impulse followed by a fragmented flag retracing back to the 0.382 - 0.5 Fib levels. This structure has then evolved into something more complex including an upward channel.
The trend is still bullish, on the daily timeframe, and with an impulse-correction-impulse final target in the 1.7107 area, a long position is highly recommended.
If you aren't yet in the trade, wait for a flag after an impulse to take long position.
Impulse on the daily will be confirmed on the break of previous high at 1.66.
Trade with care, updates will follow.
The trend is still bullish, on the daily timeframe, and with an impulse-correction-impulse final target in the 1.7107 area, a long position is highly recommended.
If you aren't yet in the trade, wait for a flag after an impulse to take long position.
Impulse on the daily will be confirmed on the break of previous high at 1.66.
Trade with care, updates will follow.
Note
Another way of seeing the complex structure that GBPCAD had formed after its previous impulse, is that it could be forming a triangle.Note
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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.