GBPCAD is giving us a rising wedge which is a chart pattern for a downtrend reversal but only when the two trendlines are very tight before we can expect a breakout and a retest. GBPCAD has been on a down trend for some days and is heading to my OB which i intend to take a buy (long) back to the top OB following the market structure. But if it fails to respect my Buy (long) trade and breaks out of the trend line i would patiently wait for a retest and find a confirmation entry for a sell (short) trade. I am just an analyst not a market maker. Follow me for more market ideas.
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