Overview of GBPCAD for the week.
On a Weekly level, you'll notice that it has reached a level of support and has touched 100% of the retracement.
We have about 3 wicks indicating the power of the sellers pushing that price on the Weekly Time frame, so as long as it doesn't break that level it is safe to say that it will continue to drop.
On the Daily, there is an obvious BOS(Break of Structure) to the downside, this when I start looking at positions to enter so I take my Fibs and draw from top to bottom and see that it consolidating on the 61% when I see this is I hop on the 4hr time frame and see a better picture of the daily tf.
1hr, I see a trend to the upside and at this point I'm just waiting for another BOS to the downside, seeing how the weekly and daily have impacted the 2Hr and below time frames.
Almost done with my analyst so I hop on the 15m time frame and notice that since the BOS it's starting to retrace to the 61% and at this point, you'll say" Ivan get on the trade already" or " Hop on that F%^^*( Trade already but something that people down realize is that even the 5min tf and the 3min tf have a structure of their own.
so once it has broken on the 5m to the downside I hop in..
Sorry, It took so many steps but that's how I have been trading for the last 5yrs and I enjoy it.
We have about 3 wicks indicating the power of the sellers pushing that price on the Weekly Time frame, so as long as it doesn't break that level it is safe to say that it will continue to drop.
On the Daily, there is an obvious BOS(Break of Structure) to the downside, this when I start looking at positions to enter so I take my Fibs and draw from top to bottom and see that it consolidating on the 61% when I see this is I hop on the 4hr time frame and see a better picture of the daily tf.
1hr, I see a trend to the upside and at this point I'm just waiting for another BOS to the downside, seeing how the weekly and daily have impacted the 2Hr and below time frames.
Almost done with my analyst so I hop on the 15m time frame and notice that since the BOS it's starting to retrace to the 61% and at this point, you'll say" Ivan get on the trade already" or " Hop on that F%^^*( Trade already but something that people down realize is that even the 5min tf and the 3min tf have a structure of their own.
so once it has broken on the 5m to the downside I hop in..
Sorry, It took so many steps but that's how I have been trading for the last 5yrs and I enjoy it.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.