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GBPCAD: Top-Down Analysis & Trading Plan 🇬🇧🇨🇦 GBPCAD is trading in a bearish trend. The price is steadily falling within an expanding wedge pattern. Reaching 1.674 low, the price bounced. At the moment bulls are approaching a strong supply zone (blue zone). The blue zone on a chart is based on a match between a horizontal daily structure resistance and a falling resistance of the wedge. The next bearish move will most likely start from that zone. To catch it wisely, monitor hourly time frame. 1.686 - 1.687 is a minor support. We need its bearish breakout (hourly candle close below) as our trigger to sell. Intraday goals will be 1.6815 / 1.677 In case of a bullish breakout of the wedge, the setup will be invalid. ❤️Please, support this idea with like and comment!❤️
Short
by VasilyTrader
19
USDCAD bull retracement Base on what I uploaded yesterday, I’m expecting USDCAD to make some bearish move of which the move as been gotten already but the problem is that the bearish move expectations is not yet completed already, this implies that, I still need USDCAD to gain some liquidity downward before the bullish run. Though, anything is possible in the market but let’s calmly wait for the final output from the market. The chart below is a pictorial expectation of USDCAD.
Long
by Bolems
GBPUSD Trend line trading. If you’re steadily following my daily publish you’ll discover that, the market is steadily obeying some key levels. Studying the chart on a 1H time frame, I can see a feasible 30pips bull run from this current state. Tho, no strategy is 100% current but with my view, the market changed structure from the bearish movement to an invisible bull run. I used the word invisible mainly because the high of the previous week as not been broken and today’s daily candle closed at indecision. I hope today’s market will share much light on the exact direction of the market. But for now, trade safely or wait till tomorrow’s London or New York session.
Long
by Bolems