Hi Traders,
Happy Monday, New week new Goals and New Opportunities,
Today I have my eye on GBP/CAD, My approach to this instrument is slightly different as I am using demand to spot a potential setup. Price has been making higher highs and higher lows since the 16th of May, We can see that price is currently pulling back to create a potentially new higher low.
I am specifically interested in 1.60 where there are a few confluences coming into play, It’s a psychological support area and we have a demand zone that is also untested, We could add a Fibonacci and a trendline which will add more confluences but I like to keep my chart clean.
I will be looking for price to pull back into my order block where I can then start looking at potential buying opportunities, Targets are around 1.680 which is also a previous high.
I will be waiting for price to come to me and then start applying my strategy for an entry.
Have a fantastic and profitable week ahead.
Renaldo Philander.
Happy Monday, New week new Goals and New Opportunities,
Today I have my eye on GBP/CAD, My approach to this instrument is slightly different as I am using demand to spot a potential setup. Price has been making higher highs and higher lows since the 16th of May, We can see that price is currently pulling back to create a potentially new higher low.
I am specifically interested in 1.60 where there are a few confluences coming into play, It’s a psychological support area and we have a demand zone that is also untested, We could add a Fibonacci and a trendline which will add more confluences but I like to keep my chart clean.
I will be looking for price to pull back into my order block where I can then start looking at potential buying opportunities, Targets are around 1.680 which is also a previous high.
I will be waiting for price to come to me and then start applying my strategy for an entry.
Have a fantastic and profitable week ahead.
Renaldo Philander.