GBPCAD: Ascending Triangle for Rising
An obvious ascending triangle is marked here. As we all know, the ascending triangle is a bullish signal.
This triangle is still forming. We can see from the volume, traders are unconfident. Sellers are waiting for signals.
I don’t think in this situation we should pay attention to the MACD since it’s a lagging indicator, it could review the signal from the last period. It is now showing the bullish signal.
The Bolling Bands is shrinking, as we know, it is a signal for the big change in the price.
Let’s wait for the price to break out
This triangle is still forming. We can see from the volume, traders are unconfident. Sellers are waiting for signals.
I don’t think in this situation we should pay attention to the MACD since it’s a lagging indicator, it could review the signal from the last period. It is now showing the bullish signal.
The Bolling Bands is shrinking, as we know, it is a signal for the big change in the price.
Let’s wait for the price to break out
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