GBPCAD-Long term view and wave counting
Hello, it seems this pair is going to the stars. Right now many traders want to short them but better to wait a little more because the final rally and decline is near.
According to W1 chart analysis this pair is forming a big ABC zigzag. Usually we expect the AB=CD harmonic pattern. We can see also a corrective channel that can contain the price.
RSI is extremely and HISTORICALLY overbought repeating similar setup that ocurred the beginning of 2014.
Here on D1 chart MY wave counting suggest we are still on Wave 3 blue just finishing. It could be nice opportunity to look for shorts to catch some pips.
Then i expect a final rally and dramatic decline near 2.1000
Best regards.
According to W1 chart analysis this pair is forming a big ABC zigzag. Usually we expect the AB=CD harmonic pattern. We can see also a corrective channel that can contain the price.
RSI is extremely and HISTORICALLY overbought repeating similar setup that ocurred the beginning of 2014.
Here on D1 chart MY wave counting suggest we are still on Wave 3 blue just finishing. It could be nice opportunity to look for shorts to catch some pips.
Then i expect a final rally and dramatic decline near 2.1000
Best regards.
