GBPCAD Analysis 28/09/2020We are in a decent sized range on the hourly, a break of resistance along with the formation of support on lower timeframes can lead to price reaching the next resistance, it would be moving through a 35 pip clean range. However if we break support, we have a 30 pip range to fall through before tapping into the next support, however resistance needs to form first. Two options are available here.
Gbpcadtrade
GBPCAD: Bearish Targets Once It Breaks Trendline Support1. GBPCAD bounced from the falling channel's resistance
2. A weekly close below the critical support & resistance of 1.7250 area
3. Hidden Bearish divergence in play to push it further down
4. Now it's holding the rising trendline support
Trade Idea:
Sell trade will be triggered on a break of the rising trendline and successful retest as a resistance.
Target 1 is 1.6620
Target 1 is 1.6280
Invalidation: Break above the resistance of 1.7250
GBPCAD Sell signal setup 3hEnjoy a free signal before the week gets started
Feedback, Likes, comments, and shares would be appreciated.
GBPCAD
Sell Limit: 1.7150 (Best entry takes the most patience)
Stop loss: 1.7250 (100 pips risk)
Take profit: 1.6680 (470 pips reward)
Risk: 1% to 3% of account (recommended)
Reward/Risk: 4.70 (470/100)
Sell Stop: 1.7075 (Only when market goes above this price will you be able to execute this order or you can use a sell limit)
Stop loss: 1.7250 (175 pips risk)
Take profit: 1.6680 (395 pips reward)
Risk: 1% to 3% of account (recommended)
Reward/Risk: 2.26 (395/175)
#GBPCAD, Before a serious rise?We had an invalid double top pattern here and the pound returned very quickly to the resistance line and again made a small downward trajectory that didn't hold up either.
Upward trend.
Because we did not break the resistance at 1.7020 Buying now will be dangerous but bold, for those who want a confirmed technical template that will wait for the breaking of the above resistance
.
FOLLOW ME: GBP/CAD Short OpportunityGBP/CAD is currently at the top of a bullish channel and it appears that it's time to short (at least in the short-term) or at the very least it's time to exit longs and wait for re-entry.
Check out my other GBP posts that should be up within the next few minutes. They are showing the same thing!
COLOR KEY (which time frame each markup is based on):
RED - Monthly
ORANGE - Weeky
GREEN - Daily
AQUA BLUE - 4H
PINK - 1HLIGHT BLUE - 15M
PURPLE - 5M
Feel free to leave your thoughts in the comments below!
Make sure to BE RESPECTFUL OF ALL COMMENTS so that we can utilize this platform to help each other and to build each other up!
After all, we're all here looking to build our wealth so let's do that with a unified spirit. :)
Sell GBPCAD Longterm Based on H&S Chart Pattern on Weekly TFThis research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.