GBPCAD selling oppertunity

2018년 2월 27일

Okay, so im expecting a long term selling oppertunity on GBPCAD.

Why?
There is a strong weekly support just above it right now and it allso alligns with fibbonacci zone 61,8%.
But you don't want to just press sell while there is still an up trend right?

So how do we enter a sell position?
First we need to wait for it to break the 4h trendline.
After the trendline is broken, usually the flag is formed before the continuation (In this case i will be waiting for a flag on 1h chart)

This is how everything togather should look like:


My first target is around 1.735 but if the price breaks the weekly trendline we will be getting a LONG time of selling oppertunities.