Hello Traders,
Just like my EURCAD analysis (inserted below), GBPCAD has also aligned on the monthly, weekly, and daily timeframes. Just like EURCAD also, GBPCAD did not trade into the weekly order block before the daily chart printed a bullish price structure and as I stated in my EURCAD analysis, it is not necessary.
GBPCAD printed a bullish CHOCH on the daily chart which retraced and reacted nicely. I have adjusted my daily order block accordingly and I am waiting for the price to retrace into the order block to go long. Although I am speculating on higher price movement, if I am able to enter the trade, I will look to exit at the daily supply order block.
Follow for more updates like this.
EURCAD ANALYSIS
Cheers,
Jabaro
Just like my EURCAD analysis (inserted below), GBPCAD has also aligned on the monthly, weekly, and daily timeframes. Just like EURCAD also, GBPCAD did not trade into the weekly order block before the daily chart printed a bullish price structure and as I stated in my EURCAD analysis, it is not necessary.
GBPCAD printed a bullish CHOCH on the daily chart which retraced and reacted nicely. I have adjusted my daily order block accordingly and I am waiting for the price to retrace into the order block to go long. Although I am speculating on higher price movement, if I am able to enter the trade, I will look to exit at the daily supply order block.
Follow for more updates like this.
EURCAD ANALYSIS
Cheers,
Jabaro
