(trade in progress) week4 GBPCAD h4 bearish trappedtraders validates resistance confluence

D1

A very nice resistance trendline connects several pivot points together.

week4 GBPCAD D1 resistance trendline 260116

h4

IN h4, the trend seems to have changed with recent flat highs being flushed, forming a bulltrap phenomenon.

Looking into recent day to day trend, the h4 bearish trappedtraders signal has dual purpose:

1) validating the resistance confluence
2. allows a chance to rejoin the bearish path of least resistance.

week4 gbpcad h4 bearish trappedtraders 260116

 

updated 300116

subsequent downmove from h4 trappedtraders

 

 

 

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