GBPCAD Classical Range Breakout Provides Buy Opportunity

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GBPCAD Classical Range Breakout Provides Buy Opportunity

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Hi Traders! GBPCAD classical range breakout provides buy opportunity for us. In the below video you will find a detailed explanation of this potential bullish opportunity:

 

GBPCAD Daily Chart:

On the daily chart the price has broken above the top of the range which we were trading previously and we also could see everything required to confirm this breakout as a valid one. We may consider this as an evidence of bullish pressure and we may now look for more evidences of bullish pressure on lower timeframes in order to join the bulls.

GBPCAD Classical Range Breakout Provides Buy Opportunity

 

GBPCAD H4 Chart:

On the H4 chart we could see that we have a five leg structure that has formed with bearish divergence at the end of it, which means most likely we may get some correction. The correction might happen in the form of double wave down towards the critical zone shown in the screenshot. Once the correction completes itself, we may then start looking for buys with more bullish evidences.

GBPCAD Classical Range Breakout Provides Buy Opportunity

Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

If you want to learn how to do such analysis yourself, if you are looking for a professional team of traders and one of the best online trading communities, If you are looking for enormous archive of Webinars, Trading Tools, Trading Strategies, Books, Indicators, Expert Advisors and much much more, join my traders academy club for only $197 PER YEAR.

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Regards,

Yordan Kuzmanov
Chief Trader at Traders Academy Club

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  • Thanks for the info. Just starting on Vergence Uni. lesson 3 but am hungry for all the information you guys give. 🤓