possibility For Continuation Buy Position.

2023年10月11日

On the 4-hour time frame, GBP/CAD has displayed a bullish momentum, indicating a potential upward movement toward the supply zone above, possibly even reaching the top-level resistance. Should the price intersect with the most recent fresh demand zone below (indicated in blue), it could present an opportunity to initiate a buy position, provided the bullish trend persists. Setting the stop loss marginally below the demand zone is advisable. The initial or ultimate target for this position is the supply zone above, while for those with a longer-term outlook, the top-level resistance serves as the final target.