Much use of the Fibonacci to confirm my analysis. As well as the rectangle being broken, my multiple time frame analysis is a little rough, but practice makes perfect.
As price approaches the resistance level I'm confident in an a strong sell coming soon, a good downtrend in the Daily chart.
Starting to reign it in on the long term trades. Closing down the lengths of my swing. I see a good buy position, price being in a support zone and a rising uptrend, i have good faith in this Long Position.
On the daily chart a Morning Star pattern, with the H4 trendline being broken, USDCAD seems to be a good position to buy.
I was wrong last time, hopefully its different this time around. I see the uptrend is going strong, resistance almost broken, so yeah, steady uptrend going strong.
The rising wedge is a clear indicator for a strong sell coming soon.
I see a good downtrend coming soon. The level of resistance looks good, as long as the Daily Bullish candle does not break the anchor, then a reversal should be well on its way.
I see a beautiful Triangle forming on the Daily Chart, get ready for a brief Long and an extravagant amount of strength from the USD market.
I see a potential Head and Shoulders pattern forming, gonna wait it out for further confirmation, but I sense a good bearish movement coming soon, will keep checking in on the for further confirmation.
This is not one of my favourite pairs, so I stand open to correction on this pair. Please do share your thoughts or any additional commentary.
I suspect a double top may form, but the weekly downtrend and the daily Resistance zones show for a brief bullish climb then a strong bearish swing downwards. Keep watch for upcoming major downward movement.
Major Triangle in action... BUY!!!!! BUY!!!! BUY!!!!
Not quite sure about this, but I do see a Double Top Pattern forming based on the Resistance Zone and the Daily Trend Line indicating a downward pattern after a false breakout. Please comment if you have any other ideas.
Based on the trend line and resistance level, I believe GBPUSD is a short. The broken anchor candle provided further confirmation as well as the ongoing bearing engulfing. The rest of the chart is pretty self explanatory. Thank you for viewing.
Made this post a little late but I'm 40 pips in profit already. I entered this trade last Thursday still keeping it in for a few more days. Charts are self explanatory. Thank you for viewing.