Hello Guys,
This pair is on my radar for one very strong reason amongst others... which is... in the monthly timeframe, the price is to continue the impulse leg... in the weekly timeframe, the price is printing the impulse leg and in the daily timeframe, price is retracing which I expect will get into the daily order block then continue the rally that is expected on the daily, weekly and monthly timeframes.
You will also notice that the price has formed relatively equal lows (sell-side liquidity) on the lower timeframe which I have indicated on the chart for you to see which is just above the daily order block. As we know, liquidity and imbalances are what attract price... hence, I expect it to be swept which gives more reason why price might get to the daily order block.
Once this happens, I will go to the 1-hour and wait for my trade setup to go long.
My target price is gotten from the weekly chart.
See correlated pair analysis: EURAUD & GBPCAD
Follow for more updates like this
EURAUD ANALYSIS
GBPCAD ANALYSIS
Cheers,
Jabari
This pair is on my radar for one very strong reason amongst others... which is... in the monthly timeframe, the price is to continue the impulse leg... in the weekly timeframe, the price is printing the impulse leg and in the daily timeframe, price is retracing which I expect will get into the daily order block then continue the rally that is expected on the daily, weekly and monthly timeframes.
You will also notice that the price has formed relatively equal lows (sell-side liquidity) on the lower timeframe which I have indicated on the chart for you to see which is just above the daily order block. As we know, liquidity and imbalances are what attract price... hence, I expect it to be swept which gives more reason why price might get to the daily order block.
Once this happens, I will go to the 1-hour and wait for my trade setup to go long.
My target price is gotten from the weekly chart.
See correlated pair analysis: EURAUD & GBPCAD
Follow for more updates like this
EURAUD ANALYSIS
GBPCAD ANALYSIS
Cheers,
Jabari
