Illuminat

Illuminat

LONG SUPPORT

Illuminat

LONG STANDING SUPPORT LINE.

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Illuminat

price is reaching a good resistance line that is also eqaul to the latest bearish runs 38Fib which would complete a bearish flag pattern USD CAD has been respecting a Bullish trend line since september this could big the first time price has broken this trend line and would result to huge downside potential.

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This is a good area to continue the GBP/CAD down trend by the time the market reaches the entry point Gbp will be at 8.9-9 on the currency strength meter and CAD on 0-0.5 this leaves the market no choice but to give gains to cad and take gains from GBP this will then eqaul the GBP CAD to continue its bearish run.

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There is a head and shoulders pattern forming a swell as a bull flag to give it that much needed push to the upside complete the pattern.

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The pair has hit the bearish daily 23 fib aswell as a long term bearish trend line resistance line. two take profits set a nice 1;9 trade if the trade fails ill be looking for shorts around the 50 fib area where price will be hitting the top of support from a long term bullish trend line which will then become resistance.

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The first red line (bottom to top) is the recent 109.927 bear candles 50% retracement line and would also complete a nice bearbflag pattern the second red line is the 23 Fib of the 112.375 downtrend. USD/JPY is also in a nice downtrend channel so 3 reasons to be short on this pair. you can easily get a 1;5 trade on this or more