Ransquawk

Ichimoku is an investment follow the trend strategy, it is perfect for H4, D1 and higher intervals. In the following review, I present my performances and observations using Ichimoku, support and resistance and Price Action formations.

Since mid-February, the exchange rate of the British pound has been increasing in relation to the Canadian dollar. Last week there was a breakthrough from the daily chart to 1,7450. As you can clearly see in the chart, since on GBPCAD there have been increases, the Kijun line has been respected as support. A similar situation occurred yesterday, with a buy signal. It is not too late to use it.

Yesterday, in the afternoon, a dynamic bearish candle appeared on the H4 chart, which stopped almost perfectly at Kijun, then a rebound took place. This was an ideal moment to enter the position, but nothing is lost. If we open a long now, there are still more than 250 pips to make money, because the next daily resistance is only on 1.7820.

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