I want to buy this pair at best pricing to target liquidity created above.
With the expected weakness of GBP , I expect a sell off of GBPZAR after the previous impulse is corrected to the appropriate structural level in 3 waves .
After a 3 wave move to the upside, I have just spotted another 3 wave pullback to 61.8% . I expect a good move to the upside either in 3 waves or 5 waves.
I love to see this pair move fast to the upside after the initial 3 wave move to the upside was corrected by another another 3 wave move to the downside to around 61.8% fib retracement. I will like to see either a 3 wave up to form WXY structure or a 5 wave up for the entire correction to form ABC .
With DXY setting up for bullish move we have to position ourselves for more sell opportunity in the major pairs.
GBPCAD is taking off smoothly from the weekly low.I love the H4 correction that will most probably going to breakout to the upside in coming sessions.
Wait for correction to finish after the breakout as indicated .There is also divergence to add to the confluence coupled with the fact that we are in demand area on the higher timeframe.
I believe this pair has huge space to cover to the upside after this corrective structure is broken to the upside.
I can spot a clear continuation pattern on this pair with good risk to reward ratio. The bearish setup is in agreement with higher timeframe direction.
The correction on the H4 time frame is good enough to consider BUY on this pair. Moreover I can see a breakout from the larger corrective structure which has given a small correction on H1 timeframe. All look set to proceed to the upside.
This pair has retraced to about 100% of the previous impulse.I expect it to be bullish from the bottom of the correction.
I want to wait to see how the correction will behave during London session tomorrow. Its important to enter market during period of high liquidity.
LOOK TO SELL AFTER CORRECTION IS OVER.YOU MUST WATCH PRICE ACTION TO SEE THAT THERE IS TRANSISTION FROM BULLISH PULLBACK TO REAL MOVE TO THE DOWNSIDE.WITH THAT YOU WONT BE CAUGHT IN EARLY SELL.
WAIT FOR CORRECTION TO FINISH BEFORE WE LOOK FOR BUY OPPORTUNITY
WAIT FOR CORRECTION TO FINISH TO LOOK FOR SELL OPPORTUNITY
This pair look very nice to push to the upside.In other to have a complete correction required to maintain the uptrend, there is need for major move to the downside before the real uptrend continue