Daniel.L
Long

GBPCAD: High Probability Long Opportunity

FX:GBPCAD   British Pound/Canadian Dollar
Price Rejected the Following Zone of Confluence:

+ Yearly Pivot Support. (Dotted Line)
+ Key Retracement Zone. (50% / 61.8%)
+ 1.860 Round Number Support .
+ Breakout of Bullish Wedge. (Continuation Pattern)
+ HUGE Bullish Pinbar on Weekly Chart.

I haven't entered this trade yet. I am looking for a retest of the 50% Fib + Top of the Bullish wedge (and previous lower high on the H4). Looking for targets at 2.023. 2.023 is not only the projected length of the previous swing up, but it is also the 1.618% Fibonacci extension of the recent move down.

Waiting for opportunities such as this (one or two of these trades a month) will save you the headache of getting in and out the market every single day and bring you a steady monthly % return without getting shaken out of the market by silly intraday movement.


Good luck, traders. Have a great weekend!

Related Ideas

I am in , thanks
+3 Reply
Daniel.L Technician
2 years ago
Awesome! No problem!
Reply
Tom_Killick
2 years ago
Looks good. Thanks
+1 Reply
Daniel.L Tom_Killick
2 years ago
Thank you!
Reply
Excellent post bro!
+1 Reply
Daniel.L ActiveTrader
2 years ago
All thanks you man! :D
+1 Reply
Daniel.L Daniel.L
2 years ago
to you*
Reply
MoneyForJam PRO ActiveTrader
2 years ago
Playing out exactly as predicted here - nice low test forming on 1.86 on daily
Reply
CharlesDennis
2 years ago
awesome analysis
+1 Reply
Daniel.L CharlesDennis
2 years ago
Thank you!
Reply
Daniel.B
2 years ago
Very nice, very nice, ready to hop into it this coming week! Should be a really nice trade =D
Reply
Good Now have to RE-TEST 1.9400 Near fibo 23.6 Im shure...
Reply
moneymaking
2 years ago
Hey Pantsu, How you doing? I am also waiting on the retracement to get on this nice bullish breakout trend. Thanks for sharing and Good Luck :)
+1 Reply
Daniel.L moneymaking
2 years ago
I'm awesome! Sharing not only helps others but it betters myself as well so I'll keep doing it as much as I can! Thanks and good luck to you as well. c:
+1 Reply
Great Analysis Pantsu. Thanks for sharing. Keep it up.
+1 Reply
Looks like GBPCAD now ready for take off
Reply
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