GBPCAD - 4hr Timeframe - Update on Short Opportunities
Following our daily timeframe analysis for this pair (www.tradingview.com/...e-Short-Opportunity/), after noticing that the pair has broken the top, which confirmed the "ABC" correction and was sufficient for said correction to be over, we observed the price action and noticed that, following the first clear small impulse to the downside the pair made a small 60min correction, which gave us the opportunity to enter this short position in a great place (at the top !).
If you are not in the trade from the top, don't panic: this is a potentially long trade and there will be other opportunities. Let's monitor price action for other 60min flags or more complex corrections.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
If you are not in the trade from the top, don't panic: this is a potentially long trade and there will be other opportunities. Let's monitor price action for other 60min flags or more complex corrections.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.