#GBPCAD bearish scenario
Bearish divergence in the 4H timeframe, as well as price failing to create a new high, shows potential weakness in the uptrend.
Furthermore, from an Elliott wave perspective, it seems like we are at wave 5 of 5, with a high potential for a bearish move from here.
In the 1H timeframe, we can see that the price managed to break below the previous higher low, successfully changing the structure towards bearish in the 1H timeframe.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
Furthermore, from an Elliott wave perspective, it seems like we are at wave 5 of 5, with a high potential for a bearish move from here.
In the 1H timeframe, we can see that the price managed to break below the previous higher low, successfully changing the structure towards bearish in the 1H timeframe.
Let me know if you would like me to publish an analysis in a lower timeframe on this chart to take advantage of this rally.
交易進行
Price trade lower beautifully after a bearish breakout of 1H timeframe structure point. t still could go lower交易進行
Price moving all the way towards our profit zone交易進行
Price has shown a very good bearish momentum, very happy about this analysis.
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