GBPCAD - Daily Timeframe - Short Opportunity
As described in our weekly timeframe overview (www.tradingview.com/...Short-Opportunities/), we are expecting and getting ready for a big downward movement on this pair.
On this timeframe, we are seeing that the pair has started to form a structure somewhat similar to an ending diagonal, which would make the perfect sell setup, for us.
Reminding again all traders that the British Pound against the Canadian dollar -0.54% is the only GBP pair that, contrary to all other British sterling pairs, has not broken the top yet, we are currently waiting for that to happen. Once the pair breaks the previous top at "A", we will start considering the structures forming on the smaller timeframes to identify potential sell setups. In this moment, patience is key.
Finally let us remind you that this trade, with a minimum expected target in the 1.524 area to re-test previous lows, is not to be missed.
Updates on smaller timeframes will follow.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
On this timeframe, we are seeing that the pair has started to form a structure somewhat similar to an ending diagonal, which would make the perfect sell setup, for us.
Reminding again all traders that the British Pound against the Canadian dollar -0.54% is the only GBP pair that, contrary to all other British sterling pairs, has not broken the top yet, we are currently waiting for that to happen. Once the pair breaks the previous top at "A", we will start considering the structures forming on the smaller timeframes to identify potential sell setups. In this moment, patience is key.
Finally let us remind you that this trade, with a minimum expected target in the 1.524 area to re-test previous lows, is not to be missed.
Updates on smaller timeframes will follow.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
If you are not in the trade from the top, don't panic: this is a potentially long trade and there will be other opportunities. Let's monitor price action for other 60min flags or more complex corrections.