The Pound Canadian Dollar intra-day.

Good morning Dynamic Traders,

I have currently got the 4 hour chart of the GBPCAD on my watchlist,as it is fighting the V.I. which has been giving formidable resistance together with the figure and former resistance.

Price has moved down heavily since the end of June and therefore as expected is now consolidating, and AdvancedGet is showing a wave 4( possibly complete ) and wave 5 projections further south.

Although the continuation down has not started, I shall await a break and should it occur will enter accordingly.

The preferred direction is down with the trend, but should a relevant BOB occur either way ( with GetStochastics having the last false bar to the upside ) I shall enter using the appropriate filters in either direction, and manage well according to the timeframe.

As always please ensure to do your own analysis before taking any trades.

















Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.