GBPCAD forecast on H5, potential H&S patternPlan : trendline breakdown --> wait for prices to bounce off trendline resistance --> wait for the rejection candle pattern to form e.g. bearish engulfing , pinbar etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
Gbpcadforecast
GBPCAD forecast on H5, possible double top formationPlan : trendline breakdown --> wait for prices to bounce off trendline resistance --> wait for the rejection candle pattern to form e.g. bearish engulfing , pinbar etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
GbpCad- more weakness to come?Last week, GbpCad has reversed aggressively, forming a Pin Bar on the weekly chart. Friday the pair stopped its decline just in support at 1.7050 zone.
Now the pair is correcting this decline and it looks like is forming a flag formation.
1.7120-1.7150 is a strong resistance and sell zone.
Strategy:
Sell rallies
SL @ 1.72 zone
TP @ 1.6870
GBPCAD approaching support, potential for a further rise!
GBPCAD approaching support at 1.70945 where it could potentially rise further to 1.73180.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
GBPCAD 4HR - SHORT DONT MISS THE FALLA zigzag correction of ABC is completing for Subminuette Wave 2 and price is currently retesting the 61.8% Fibonacci Level.
There is also divergence on MACD indicating the bulls losing its buying power hinting a potential reversal.
SCENARIO
Recommendation: Sell
Wait for price to break the trendline downwards and Sell. Our first target is the channel support.
Goodluck.
GBP/CAD (Looking For A Sell Entry)Details on the chart! Also check out the weekly and 4hr time frames!
Expecting Drops and Pullbacks... Drops and Pullbacks!!!! Ready to hold for a while!!!
Reasons to sell!!!!
1. Triple Top With Rsi Divergence
2. Price at the Daily, and Weekly Resistance level that tried to break 2 other times before! This means that every time buyers took the price up to that level , some smart big money came in to drop it lower! It did it again , and has began to do it now!
Look for a entry on hour 4 if your trading the daily , look for a entry on the daily if your trading the weekly!