GBPCAD
Bullish Trend: GBP/CAD is showing a bullish trend on the 4-hour timeframe, indicating a potential new upward movement through wave 5 of a higher degree impulse wave.
Entry Strategy: Consider entering a buy position after a breakout above a key level or when the price completes a 50% to 61% retracement.
Wave 4 and Trendline: Wait for wave 4 to complete and touch the ascending trendline.
Confirmation: Enter a buy position after observing bullish rejection at the trendline.
Entry Strategy: Consider entering a buy position after a breakout above a key level or when the price completes a 50% to 61% retracement.
Wave 4 and Trendline: Wait for wave 4 to complete and touch the ascending trendline.
Confirmation: Enter a buy position after observing bullish rejection at the trendline.
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.