Direct from the desk of Dane Williams,
This is not your average forex broker email.
With GBP/CAD respecting a confluence of support on the higher time frame chart, we were waiting for an intraday pullback to look at buying.
Well take a look at the pullback we just got on the hourly chart below.
I’ve marked the pullback into the last zone of short term resistance turned support that price is looking like bouncing off for an entry.
You can also see the higher time frame broken trend line that is also being retested as support from the blog.
As always, aggressive traders will place their stops below the short term zones, while the trade idea wont actually be negated until the higher time frame zone completely goes.
Hit reply and let me know if you’re looking to trade this setup. I read and reply to everyone inside my Inner Circle who takes the time to chat.
Best of probabilities to you,