Technician

How to spot a trade - Using confluence #forex

FX:GBPCAD   Paun British / Dolar Kanada
29
Update: I bought part of my planned position without confirmation at support s27.postimg.org/kfs0ny59v/Capture.png .. I am looking to add now.


The price is approaching a key are:
  • Confluence of two major support levels(Previous major swing high on daily and weekly charts)
  • 50% retracement level for the bullish wave starting from january
  • 161.8 extension for the latest bullish pullback (wave AB)
  • Bullish divergence on RSI

Waiting for my final confirmation to go long. Alternatively if it breaks lower, would look for final confirmation to go short. Will be updating on confirmation...

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Technician
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