A 6 months consolidation broken, are we expecting a big move on this?

I like to always go to higher timeframe chart to check on boxes.

Boxes make it so easier for me to quantify time in a trade – label a movement in monthly, weekly or daily. And a monthly close is always stronger than a weekly close, likewise, a weekly close stronger than daily close.

GBPCAD presents such an opportunity where there was a monthly bearish expansion below 5 monthly boxes low.

Big Picture analysis

GBPCAD below 5 monthly boxes low


A bearish expansion below 5 months of boxes low – bearish

ED offering support

If below ED will be very bearish


ED offering current support – the reason why price stops

H4 boxes shows Big Move strategy



H4 boxes shows big move strategy

1234 not ideal

The current suspected 1234 does not fit what we like. Therefore, it is important for price to show a reversal bearish chart pattern in pt 4, e.g. HS or DT.

Box 2 box low around 18030

F6 around 18000

It is important for price to clear F6 otherwise, we expect more retracement upwards to stronger resistance


1234 not ideal – pt 3 lower than 1


#tflow #trade wk 36/1 $gbpcad big move setup, below 1.7990 has S 1.7800


Update by Binni Ong 2 Sep 6.07pm

Answering student’s question on how support is derived


Support from weekly chart turning point

Loading Facebook Comments ...

Leave a Reply