GBPCAD Analysis. Swing trade idea.
Hello everyone, i want share my idea bout GBPCAD.
If we look at higher timeframe, price action slowly but it's still going higher, last week we saw huge reactions from sellers but buyers still has control at price.
My analysis at the moment is price action, if price will brake, 1.718 resistance LVL then we have much stronger resistance at 1.73 and 1.75.
I am following price action at high timeframe which is 1W and 1M, if buyers will push much stronger the price it can brake pretty easy al the mentioned resistance.
If we look at higher timeframe, price action slowly but it's still going higher, last week we saw huge reactions from sellers but buyers still has control at price.
My analysis at the moment is price action, if price will brake, 1.718 resistance LVL then we have much stronger resistance at 1.73 and 1.75.
I am following price action at high timeframe which is 1W and 1M, if buyers will push much stronger the price it can brake pretty easy al the mentioned resistance.
Comment:
This i why you need always scenes, actually i was right, first it came opposite side of my trade direction but it found buyers, which we saw at 1.708 LVL wen we saw huge reaction after huge move, it was last sell side liquidity, and after that buyers take control and went to my direction.