GBP/CAD Long - 1H Timeframe
Prices are currently in the middle of a back-to-back impulse wave. The long red arrow represents a "Brick wall" which has not been broken as yet. Once the " Brick wall has been breached with at least 2 bearish candles to the down side, this would indicate that the market is ready to move back to the down side. For confluence, I suggest using the Stochastic Oscillator with setting of 14.3.3. Make the overbought range 90% and the oversold range 10%. Once the two MA in the Oscillator moves down - pay attention. Remember - the trend is your friend. Trade wisely.
This is just my own opinion based on my education and experience of trading. Trade with proper risk management!
This is just my own opinion based on my education and experience of trading. Trade with proper risk management!
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