Technician

How to spot a trade - Using confluence #forex

FX:GBPCAD   British Pound/Canadian Dollar
2032 22 28
Update: I bought part of my planned position without confirmation at support http://s27.postimg.org/kfs0ny59v/Capture.png .. I am looking to add now.


The price is approaching a key are:
  • Confluence of two major support levels(Previous major swing high on daily and weekly charts)
  • 50% retracement level for the bullish wave starting from january
  • 161.8 extension for the latest bullish pullback (wave AB)
  • Bullish divergence on RSI

Waiting for my final confirmation to go long. Alternatively if it breaks lower, would look for final confirmation to go short. Will be updating on confirmation...

Thank you for reading , be one of the first members of my new trading portal, check my new website http://thefxchannel.com/ , vote and subscribe. Thank you
------------------------------------------------------------------------------------------------------------------------------------------------------------
Good luck, keep your stops tight..
https://twitter.com/thefxchannel
https://www.facebook.com/thefxchannel
https://plus.google.com/+Thefxchannel0
My best regards
Technician
If you dont want to miss any trade and see all the trades live, fully transparent. No bullshit like some others. Join my FREE channel here https://telegram.me/technician_forex_trades
Daniel.L
2 years ago
Saw this on the weekly chart! Good stuff.
+1 Reply
GASTANTheCat
2 years ago
Oh...good news :D awaiting your updates :)
Reply
AnneSmith
2 years ago
thanks for sharing
Reply
Daniel.B
2 years ago
Seeing the same thing! Glad to here fellow traders seeing the same thing =)
snapshot
Reply
moneymaking
2 years ago
Great analysis Technician, as always. Looking forward to the conformation. Thanks :)
Reply
ashif030
2 years ago
nice....
waiting for you update...
Reply
bloodbath
2 years ago
Thanks for posting.
I see support @ 1.8526-1.8582 area.
Good luck !
Reply
MisterTrader
2 years ago
Same same :D
Level To Watch: #GBPCAD Heading to Major support and 0.5 Fibo
+1 Reply
Nice one mate. One question: what kind of confirmation do you usually wait/look for?
+1 Reply
Guys, I bought part of my planned position without confirmation at support http://s27.postimg.org/kfs0ny59v/Capture.png .. I am looking to add now.
Reply
HexVex Technician
2 years ago
Did the same :) Thanks for the update! Have you switched timezones since this time last year? You used to be around a lot earlier relative to GMT
Reply
MuathAlBulbul Technician
2 years ago
Wish you gave the update sooner! Very nice job nonetheless. =)
Reply
Bivekon
2 years ago
Hi Sir, I was wondering if this trade is still valid? I am thinking to jump in, and I appreciate if you could give some update. Thank you!
Reply
Technician TOP Bivekon
2 years ago
I was long then i closed at breakeven. Now i am waiting for a new signal.
-1 Reply
I have longed this http://s29.postimg.org/o2j77eblz/Capture.png
Reply
moneymaking Technician
2 years ago
Hey technician, in order to get into this long trade, is it a good idea to wait for a retest of the trend line or the previous lower highs?
Reply
Technician TOP moneymaking
2 years ago
Mate, if i werent long i would wait for a retest of this support
snapshot
Reply
moneymaking Technician
2 years ago
Great, Thank you and Good luck to you :)
Reply
Technician TOP moneymaking
2 years ago
Yw, you too
-1 Reply
Technician TOP Technician
2 years ago
We had the retest to 1.8680 support area, was another opportunity to re-enter long
-1 Reply
HuseyinCinici
2 years ago
The price is dropping hard now
Reply
Technician TOP HuseyinCinici
2 years ago
Am out of this trade with minor profit just near breakeven.. Will be monitoring..
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out