Search
  • Vasily Trader

GBPCAD: Indecision & Two Scenarios Explained (Indecision)



Hey traders,


GBPCAD is approaching an important daily resistance cluster.

Depending on the market reaction to that structure I see two potential scenarios:

Bullish

In case of a daily violation (daily candle close above) of a yellow zone,

I will expect a bullish continuation to 1.75 level.


Bearish

In case of a bearish breakout of a rising parallel channel on 4H,

a pullback will be expected to 1.72

(note that if the price will go above the underlined yellow resistance, the setup will be invalid)


Wait for the needed breakout & follow the market!

2 views