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


A very nice resistance trendline connects several pivot points together.

week4 GBPCAD D1 resistance trendline 260116


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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