GPBPCAD POTENTIAL SHORT OPPORTUNITY
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Hey everyone what's going on! Joseph here just wanted to make another post for you all for the week ahead on a swing opportunity I see here on GBPCAD! Going to make it short and sweet for you all so you can all set this on your watchlist and go enjoy your lives! So let's dive in
OK so starting on the higher TF on the weekly timeframe we can see that GBPCAD has been rising to the upside for some time... Without any real pullbacks. Meaning no big "discounts" for some time now. What I also see is on the weekly and daily timeframe price came into a significant supply level...followed by a BOS (break of structure) to the downside printing new daily lows in the market. Showing us that this market has now turned into a seller controlled market vs before being a bullish or buyer/demand driven market.
Something that also really grabbed my attention that added to the confluence of this idea is the momentum/strength of the sellers. They came off of this supply zone very strong! Showing larger orders and more strength showing a supply driven market with more sellers than we have buyers and a dominance of sellers that if we are looking to sell also is a good sign to see!
OK so now it comes down to supply levels to be able to take action from to join into this new formed supply driven market. On my chart I am showing the level I have the most confluence for around the 1.74900 price zone. Also since this is a newly formed downtrend the buyer may try to hit a larger buy order one more time before the sells happen (also providing liquidity to the seller) to then make a larger move and new low to the downside from supply. Which is more likely to happen since it is a newly formed downtrend like I stated!
OK guys so this is my analysis for GBPCAD some good signs with price action pointing towards that next swing move being to the downside so keep an eye out and please boost this post and follow my page for more high accurate analysis!
Cheers! Happy 4th everyone!
OK so starting on the higher TF on the weekly timeframe we can see that GBPCAD has been rising to the upside for some time... Without any real pullbacks. Meaning no big "discounts" for some time now. What I also see is on the weekly and daily timeframe price came into a significant supply level...followed by a BOS (break of structure) to the downside printing new daily lows in the market. Showing us that this market has now turned into a seller controlled market vs before being a bullish or buyer/demand driven market.
Something that also really grabbed my attention that added to the confluence of this idea is the momentum/strength of the sellers. They came off of this supply zone very strong! Showing larger orders and more strength showing a supply driven market with more sellers than we have buyers and a dominance of sellers that if we are looking to sell also is a good sign to see!
OK so now it comes down to supply levels to be able to take action from to join into this new formed supply driven market. On my chart I am showing the level I have the most confluence for around the 1.74900 price zone. Also since this is a newly formed downtrend the buyer may try to hit a larger buy order one more time before the sells happen (also providing liquidity to the seller) to then make a larger move and new low to the downside from supply. Which is more likely to happen since it is a newly formed downtrend like I stated!
OK guys so this is my analysis for GBPCAD some good signs with price action pointing towards that next swing move being to the downside so keep an eye out and please boost this post and follow my page for more high accurate analysis!
Cheers! Happy 4th everyone!
Ordine annullato
Buyer came in too strong to look for sells...cheers!
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