ð GBPCAD LONG-TERM SHORT
On the weekly timeframe, we can see the weekly IC level had attacked the previous high made in April. This gives me a reason to believe there was some sort of manipulation play and therefore the price may magnetize towards this region to satisfy that IC level.
However, price may ignore that level for now as there is another set-up playing out in the 4HR timeframe whereby price is creating a bullish corrective wave that is estimated to lead to the 50% of our IC level which is our Optimal Point of Entry (O.P.E). This is a long-term swing trade so the reward is between 1000-2000 pips.
However, price may ignore that level for now as there is another set-up playing out in the 4HR timeframe whereby price is creating a bullish corrective wave that is estimated to lead to the 50% of our IC level which is our Optimal Point of Entry (O.P.E). This is a long-term swing trade so the reward is between 1000-2000 pips.