Short

GBPCAD H4 SHORT PRICE ACTION FORECAST

Price is currently trying to break the previous high. If it fails to breakthrough forming a new high, it will create a subtle double top pattern for a correction. A short entry can be taken to capture the downward movement towards the FIB level before the next impulse for the trend continuation.

The counter-trend entry should be monitored cautiously, as the price could revert before reaching the T/P level. If everything, as forecasted, happens, it will also allow the setup of a long entry after confirmation of bullish continuation.

The order:
Type: sell-stop
S/L: 53 pips - R:R | 1:2 -
T/P: FIB level

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