Interesting double tops and bottom in the past days on GBPCAD
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I highlighted a key area with a purple rectangle. It appears GBPCAD has enjoyed creating this double top/bottom pattern in the last few days.
►In the second and third-fifth of the London session, the price breaks out of the Asian range (yellow) and created top. ►Before the start of the New York session, the price starts to retrace back to the Frankfurt opening range (green). This happened 3/4 times here, once, it went back down only a couple of candles. ►New York session, in the first half, another top/bottom is created. In 3/4 cases, it created a final top on 1* extension of the Asian range (orange line). If we use the average Asian Range, it will be 4/4 cases. ► In 3/4 cases, the New York extreme price was higher than the London extreme price.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.