On the 4-hour time frame, GBP/CAD has displayed a bullish momentum, indicating a potential upward movement towards the supply zone above, possibly even reaching the top-level resistance. Should the price intersect with the most recent fresh demand zone below (indicated in blue), it could present an opportunity to initiate a buy position, provided the bullish trend persists. Setting the stop loss marginally below the demand zone is advisable. The initial or ultimate target for this position is the supply zone above, while for those with a longer-term outlook, the top-level resistance serves as the final target.
Note
Roll stop loss to break even 1.6570Note
Close the position, the price moves up but in compression way,
City Traders Imperium | Funding For Traders
- Est. Since 2018.
- Up to 100% Profit Share.
- Balance Based Drawdown.
- 1-Step & 2-Step Funded Accounts.
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- Est. Since 2018.
- Up to 100% Profit Share.
- Balance Based Drawdown.
- 1-Step & 2-Step Funded Accounts.
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Disclaimer
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City Traders Imperium | Funding For Traders
- Est. Since 2018.
- Up to 100% Profit Share.
- Balance Based Drawdown.
- 1-Step & 2-Step Funded Accounts.
citytradersimperium.com/
- Est. Since 2018.
- Up to 100% Profit Share.
- Balance Based Drawdown.
- 1-Step & 2-Step Funded Accounts.
citytradersimperium.com/
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.