Morning guys,
Please see our analysis of GBPCAD, we have been masking a rising wedge on the 4 hourly TF, the is a bearish pattern. We have no broken the wedge and are now retesting the underbelly, for added confluence we also have the 50% fib level and both the 4hr EMA and 1hr EMA overlap in the same place.
We can use our daily fib to target 1.66631.
with a 35 pip stop we have roughly a 1:11 RR
Like this set up ? then why not follow our free telegram for more chart ups and analysis
Please see our analysis of GBPCAD, we have been masking a rising wedge on the 4 hourly TF, the is a bearish pattern. We have no broken the wedge and are now retesting the underbelly, for added confluence we also have the 50% fib level and both the 4hr EMA and 1hr EMA overlap in the same place.
We can use our daily fib to target 1.66631.
with a 35 pip stop we have roughly a 1:11 RR
Like this set up ? then why not follow our free telegram for more chart ups and analysis