GBPCAD BULLISH CYPHER ON H4

2 במרץ 2020

A near perfect bullish cypher pattern has just completed on the H4 time frame. In line with this pattern we expect to see the Pound strengthen to that 1.7300 area where it reaches the confluence of a strong order block as well two Fibonacci retracement levels namely the 0.236 from that XC impulse and the 0.707 of the CD leg. A head and shoulder pattern would then be valid as result of these movements and a strong sell would ensue after a retest of the trapped volume around that 1.7300 area.