GBPCAD is Brewing a Monster Move – Are You Ready or Getting Left
GBPCAD appears to be following a clear structure with identifiable waves and liquidity points. Based on the long-term projection, the pair seems to be progressing through corrective and impulsive waves, targeting significant levels. The chart suggests the possibility of a broader accumulation phase that leads to a strong move toward liquidity zones before a potential reversal.
Breakdown of Key Points:
Wave Structure Analysis:
The price structure is currently forming a complex corrective wave pattern.
The primary corrective wave (WXYXZ) is projected to potentially find support at lower fib retracement zones (e.g., 0.618 or 0.886 levels).
Significant Levels:
Resistance Zone: At the most recent weak swing high near 1.51943, where liquidity has likely accumulated.
Support Zone: The range near 1.16084 and 1.03327, which aligns with strong fib retracement zones and a divergence area.
Liquidity Observations:
The Sell-Side Liquidity Zone (SSL) near 1.314 marks a key area where traders may have stop-loss clusters, potentially acting as a magnet for price movements.
After sweeping these zones, momentum could shift strongly to the upside.
Long-Term Target:
The structure hints at a long-term push toward 1.5+ levels, but this depends on how price reacts to the liquidity sweep near 1.03327 or 0.71502 (if the deeper retracement unfolds).
What to Watch for:
Bounce Areas: Pay close attention to fib retracement levels at 1.16084 and below; these are critical potential reversal points.
Liquidity Sweep: Watch for a sweep of Sell-Side SSL (1.314) or deeper liquidity grabs to confirm stronger upward momentum.
Momentum Shift: Confirmation of bullish momentum through strong breakouts and holds above weak swing highs (like 1.51943).
Potential Risk:
If price invalidates by breaking below 0.71502, it would signal a deviation from this outlook, potentially continuing into uncharted bearish territory.
Breakdown of Key Points:
Wave Structure Analysis:
The price structure is currently forming a complex corrective wave pattern.
The primary corrective wave (WXYXZ) is projected to potentially find support at lower fib retracement zones (e.g., 0.618 or 0.886 levels).
Significant Levels:
Resistance Zone: At the most recent weak swing high near 1.51943, where liquidity has likely accumulated.
Support Zone: The range near 1.16084 and 1.03327, which aligns with strong fib retracement zones and a divergence area.
Liquidity Observations:
The Sell-Side Liquidity Zone (SSL) near 1.314 marks a key area where traders may have stop-loss clusters, potentially acting as a magnet for price movements.
After sweeping these zones, momentum could shift strongly to the upside.
Long-Term Target:
The structure hints at a long-term push toward 1.5+ levels, but this depends on how price reacts to the liquidity sweep near 1.03327 or 0.71502 (if the deeper retracement unfolds).
What to Watch for:
Bounce Areas: Pay close attention to fib retracement levels at 1.16084 and below; these are critical potential reversal points.
Liquidity Sweep: Watch for a sweep of Sell-Side SSL (1.314) or deeper liquidity grabs to confirm stronger upward momentum.
Momentum Shift: Confirmation of bullish momentum through strong breakouts and holds above weak swing highs (like 1.51943).
Potential Risk:
If price invalidates by breaking below 0.71502, it would signal a deviation from this outlook, potentially continuing into uncharted bearish territory.
Trade fechado: objetivo atingido
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.