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Gbpcadlong

GBPCAD Trade IdeaCurrently testing the 61.8 for a possible support area. This is illustrated on both the daily and 4hr chart. Along with the fib retracement level, we also have the mid channel pivot which could add some additional support. My idea here is to enter long considering the overall trend itself is also bullish. Tomorrow we have Canada reporting their unemployment figures. I expect on a seasonal basis for Canada to under perform in the winter months and should provide a disappointing jobs report tomorrow and thus lower the Lonnie. ------------------------- Please don't forget to FOLLOW, LIKE, and COMMENT ... If you like my analysis:) Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.
Long
by Michael_Harding
1
GBPCAD long trade ideaPlan: wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **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 as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
1
Hourly Downside Pressure Died Off On GBPCADKey details in Signposts. Hourly selling pressure has died down at the 1.7283 level. Structurally, good opportunity to continue building a position in this pair. [ Note that ideas published represent my viewpoints on structural directional movements. I do not post explicit trade parameters (i.e. entry, take profit, stop loss, etc.) as these are set to in reference with my expectancy. Since my win rate and R-multiple targets are different, ideas published are simply a resource to provide guidance. You are expected to manage your own trading decisions. ]
Long
by FinancialGamblR
1
GBPCAD MAKING A MOVE UP?Hi. I'm looking at GBPCAD for a potential buy entry. Elliott wave is always an interesting feat, lol. I attempted to count the waves that have formed and believe we are in an ABC correction right now. It looks like price has hit the D -0.27 extension on the sell. Now waiting to see if we will get a deeper retracement or if price will start to move up. If my analysis is correct for either level, I think this could be a long term play. I am not entering now. I want to wait for bullish indication.
Long
by justagirllearningtotrade
1