GBPCAD LONG TRADE INCOMING
The pair has been in a huge uptrend and after taking a breather, GBPCAD looks set to continue in its upward trajectory.
Clouds of liquidity all lying at the top all the way to 1.7900 now likely our target, also economic and fundamental factors all supporting our underlying technical analysis.
EMAs (Exponential moving Averages) 10,50,200
Accumulation/Distribution
Natural ebb and flow of the market (Impulse/correction)
As can be seen the 4 hour intra day time frame has broken structure back to the top side, the 10 day EMA is making a cross above the 50 and 200 EMA and getting reading for the expansion leg. The interpretation of this is that, An accumulation has taken place and we are likely to begin a move in the next coming days clearing the liquidity resting points above.
ENTRY: Our entry should be based on 15/30 minutes, we can see that after the break of structure (BOS) indicated by the blue lines, price has now pulled back to mitigate the demand zone.
Wait for the price to break and close above 1.7773 before any attempt to go LONG.
Remember to always practice good money/risk management.
Clouds of liquidity all lying at the top all the way to 1.7900 now likely our target, also economic and fundamental factors all supporting our underlying technical analysis.
EMAs (Exponential moving Averages) 10,50,200
Accumulation/Distribution
Natural ebb and flow of the market (Impulse/correction)
As can be seen the 4 hour intra day time frame has broken structure back to the top side, the 10 day EMA is making a cross above the 50 and 200 EMA and getting reading for the expansion leg. The interpretation of this is that, An accumulation has taken place and we are likely to begin a move in the next coming days clearing the liquidity resting points above.
ENTRY: Our entry should be based on 15/30 minutes, we can see that after the break of structure (BOS) indicated by the blue lines, price has now pulled back to mitigate the demand zone.
Wait for the price to break and close above 1.7773 before any attempt to go LONG.
Remember to always practice good money/risk management.
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