GBPCAD Touched The Blue Box Area & Now Turning Higher
@Elliottwave_Forecast：
GBPCAD Touched The Blue Box Area & Now Turning Higher April 4, 2023 By Hassan Sheikh In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of GBPCAD. In which, the rally from the 10 February 2023 low unfolded as an impulse sequence and showed a higher high sequence with a bullish sequence stamp. Therefore, we knew that the structure in GBPCAD is incomplete to the upside & should see more upside to complete the impulse sequence. So, we advised members not to sell the pair & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below: GBPCAD 4-Hour Elliott Wave Chart From 4.02.2023 GBPCAD Touched The Blue Box Area & Now Turning Higher Here’s the 4hr Elliott wave Chart from the 4/02/2022 Weekend update. In which, the rally to 1.6866 high ended 5 waves from the 2/10/2023 low in wave (1) & made a pullback in wave (2). The internals of that pullback unfolded as Elliott wave double three correction where wave W ended at 1.6676 low. Then a bounce to 1.6792 high ended wave X & started the next leg lower in wave Y towards 1.6602-1.6483 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3 wave bounce minimum. GBPCAD 4-Hour Latest Elliott Wave Chart From 4.03.2023 GBPCAD Touched The Blue Box Area & Now Turning Higher This is the latest 4hr Elliott wave Chart from the 4/03/2023 update. In which the pair is showing a reaction higher taking place, right after ending the double correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. If you are looking for real-time analysis in GBPCAD along with the other forex pairs then join us with a 14-Day Trial for the latest updates & price action. Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry. Stop loss and take profit levels with high accuracy and allow you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Trial. Source:https://elliottwave-forecast.com/forex/gbpcad-touched-blue-box-area-now-turning-higher/
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