GBP/CAD Long - 1H Timeframe

21 de fev. de 2022

Prices are currently in the middle of a back-to-back impulse wave. The long red arrow represents a "Brick wall" which has not been broken as yet. Once the " Brick wall has been breached with at least 2 bearish candles to the down side, this would indicate that the market is ready to move back to the down side. For confluence, I suggest using the Stochastic Oscillator with setting of 14.3.3. Make the overbought range 90% and the oversold range 10%. Once the two MA in the Oscillator moves down - pay attention. Remember - the trend is your friend. Trade wisely.

This is just my own opinion based on my education and experience of trading. Trade with proper risk management!