GBPCAD - 4HR - Bullish BAT - Long
GBPCAD 4HR, looking for 300+ pips here.
The pattern is complete however.....
A correctional trade in a bearish Channel, possible double bottom if we venture down on a DIV play
We are well oversold, so again I will be waiting for RSI to ease off and not enter the trade early, we are already seeing some form of consolidation or a pause, a day or when its ripe, I will take the trade.
Its a long play for many pips, lets wait for confirmation on RSI moving back to normality and retesting oversold on the 70, if we see divergence there, we will have a better entry than right now and the trade will have momentum.
The pattern is complete however.....
A correctional trade in a bearish Channel, possible double bottom if we venture down on a DIV play
We are well oversold, so again I will be waiting for RSI to ease off and not enter the trade early, we are already seeing some form of consolidation or a pause, a day or when its ripe, I will take the trade.
Its a long play for many pips, lets wait for confirmation on RSI moving back to normality and retesting oversold on the 70, if we see divergence there, we will have a better entry than right now and the trade will have momentum.
Nota
We are still in oversold, RSI has not rolled over for a sign of entry.This is why I mention Divergence is key, as RSI can sit in oversold or bought for days, weeks and price not reverse.
Still waiting pattern has not failed
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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.