Forex GBPAUD : New levels of weekly demand have now been created for potential longs at around 1.73
14th February 2018
GBPPLN strong weekly demand level around 4.65 in control
20th February 2018

Forex major usdcad is starting to make a retracement to weekly supply zone at around 1.28 and could create some nice shorting opportunities. In a downtrend supply levels are respected and demand zones and imbalances are removed. When the lower timeframes go out of alignment they will usually retrace to a higher timeframe such as weekly supply so be patient and wait for shorts at higher timeframe supply zones.

2 Comments

  1. Jay says:

    1.28 did not work out. But then again W1 momentum was up and out of alignment with M1 ( and not broken as was shown here). This blog is informative. Thanks!

    • Jay, by the time price reached weekly supply, bias had changed with new weekly bullish impulses. This is a one timeframe analysis, we need three. We need to know what the other timeframes are doing to make a trading decision.

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