Bearish butterfly/5-0 GBPCAD
The Daily Chart on the GbpCad is providing a very bullish set up. If price reaches the D point of the butterfly I will be shorting until the 50% retracement from C-D (where the 5-O completes). There shouldn't be any fundamental intervention until Bank of Canada Governor Stephen Poloz Speech in Mexico on the 4th of May; until then price will flow naturally.
Butterfly Ratios
B: 0.786
C: 0/382-0.886
D: 1.618-2.24
xD: 1.272
5-o Ratios
B(3):1.13-1.618
C(4):1.618-2.24
D(5):50%
Butterfly Ratios
B: 0.786
C: 0/382-0.886
D: 1.618-2.24
xD: 1.272
5-o Ratios
B(3):1.13-1.618
C(4):1.618-2.24
D(5):50%
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