GBPCAD LONG
GBPCAD tested weekly ascending channel's (yellow channel) support and created double bottom with a higher low
it also broke above daily descending channel's (blue channel) resistance and 1.7150 resistance area which is double bottom neckline
it formed bullish flag on H4 time frame
pullback to 20 EMA and breakout of bullish flag on H4 are good setups to go long and catch early movement with tight sl
but it will be much safer to wait to clear 1.7300 zone (red rectangle) because there is still a chance to create an evening star candle pattern on daily and see downward reversal after fakeout
it also broke above daily descending channel's (blue channel) resistance and 1.7150 resistance area which is double bottom neckline
it formed bullish flag on H4 time frame
pullback to 20 EMA and breakout of bullish flag on H4 are good setups to go long and catch early movement with tight sl
but it will be much safer to wait to clear 1.7300 zone (red rectangle) because there is still a chance to create an evening star candle pattern on daily and see downward reversal after fakeout
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