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Gbpcadshort

GBP / CAD 1.65882 - 0.1 % LONG IDEA * PRICE ACTION & STRUCTUREHEY EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE. NEW WEEK, NEW OPPORTUNITIES. LOOKING AT THE GBP / CAD * The PAIR has been trading in a FALLING WEDGE range-bound within this structure , retested this level somewhat now signaling continuation. - Short term the pair is currently rejecting at this structure possibly signaling continuation in momentum on the 4h chart this in a falling wedge at the support within the structure.. - Looking for long entries on the THE POUND / CAD this week should all the rules of the formation be met. ON THE HOURLY SCALLING IN FOR ENTRIES HERE IS WHERE WE ARE AT lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
Long
by PULEMokhothu
2
GBPCAD DAILY ANALYSIS, a nice downtrand is formingFirst, let us cover some historical points in GBP/CAD's near history. It seems we finally broke out from the consolidation zone. A nice downtrend is forming as the price action created a lower high on the 21st of February. Since then, the price started its journey to the bottom. It broke 38.2, 50, and 61.8% of Fibonacci retracement. We can even see a strong chart pattern, a double top with neckline broken. That shows down movement for us. We expect 1.66000 to be a strong pivot point. If confirmed, that would make it an excellent place to enter a long position. We recommend using the ATR indicator to find stop loss. As price moves in your direction, move your stop loss. That could be a great wave to catch. Use this information at your own risk. This analysis is to point out the high probability key points. For day traders, it is crucial to know the bigger picture. Have fun trading!
Short
by SYMA_FOREX