GBPCAD- The ascending wedge pattern in itself has a downward breakout bias
- Overall downtrend
- Exhaustion phase
- Expected continuation phase
- Price failed to hold above the downward trend line, making many attempts to the upside which lead to eventual and expected failure
- Overall, bears have now broke back below the trend line and are testing it
- Once price-action confirmation is provided, a downward continuation is probable
Keep an eye out, and remember to use good risk management!
- TheFXAngel
𝗟𝗶𝗸𝗲𝗱 𝘁𝗵𝗲 𝗶𝗱𝗲𝗮? 𝗙𝗼𝗹𝗹𝗼𝘄 𝗳𝗼𝗿 𝗺𝗼𝗿𝗲!
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