GBP/CAD is showing some serious bearish momentum!
After closing below our weekly key level of 1.77000 we could be heading to the next level of 1.74000 for a 300 pip move to the down side,
we MIGHT see a retrace to the grey box level above as we are currently sitting on daily support, before heading down.
If we close below our daily support price will be heading to our next significant level (boxed red) where a lot of buy orders will start flooding in, that is one possible take profit, but if we close below, we will be heading down to 1.74000.
I'm currently in this trade so I will be watching this one close.
After closing below our weekly key level of 1.77000 we could be heading to the next level of 1.74000 for a 300 pip move to the down side,
we MIGHT see a retrace to the grey box level above as we are currently sitting on daily support, before heading down.
If we close below our daily support price will be heading to our next significant level (boxed red) where a lot of buy orders will start flooding in, that is one possible take profit, but if we close below, we will be heading down to 1.74000.
I'm currently in this trade so I will be watching this one close.
Note
Manufacturing news just hit and its sending this pair straight down, mid target level en route. waiting for a strong close on both Daily and 4HR time frame to see if if this pair is truly heading down. Floating 70 pips at the moment.Note
Reached the boxed red are and now we are trading along it. we could possibly see a bit of a pull back because this is an area where lots of long orders are being filled.If we close above it on the daily i will be taking profit, if we close below on the daily my target price is next.
will be watching carefully on the 4HR :)
Floating 130 pips atm.
Note
Closed below red box. going to my target now.Floating 210 pips atm.
easy shit.
Note
closed the trade early, didn't like how it was retracing pretty strong on the 4hr.around 200 pips secured..
Disclaimer
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.
Disclaimer
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.