Gbp-cad
GBPCAD SS Short + 130 Pip PotentialPrice is below the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and good RRR.
2 Potential entries (it is one or the other, not both)
Entry = 1.6341
Stop = 1.6361
Risk = 20 pips
Profit target = 1.6211 ( The projected daily low )
Reward = +130
RRR = 6.5 - 1
2nd Entry = 1.6267
Stop = 1.6292
Risk = 25 pips
Profit target =1.6192
Reward = 75
RRR = 3-1
I would appreciate if you leave a comment or like as a thank you
Have a great week !
Allen
GBPCAD BUY GBPCAD Buy set up -
The market has been in the downward channel since 6th June.
Rejection of Support trend line followed by the 3 green candles have indicated a buy up to the resistance trendline.
One key factor to look for is if the market does find support of the Daily support 1.65950
If not then the market will drop to Support trend line giving an option for re-entry.
150 pip trade potential.
GBPCAD SS Short + 132 Pip PotentialPrice is below the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and good RRR.
2 Potential entries (it is one or the other, not both)
Entry = 1.6932
Stop = 1.6952
Risk = 20 pips
Profit target = ( The projected daily low )
Reward = 132 Pips
RRR = 6.6-1
2nd Entry = 1.6852
Stop =1.6882
Risk = 30 pips
Profit target = 1.8762 (statistical target)
Reward = 90 Pips
RRR = 3-1
** Please be aware that UK GDP is scheduled for 4:30 am est. and will directly effect this trade.