Looking to Short at 1.88500 just below the evenhanded Number 1.89000
Guyz look ofr Double top with rsi divergence with a good risk to reward ,
we got some febs aligning right on that resistance a tct trade
Price have broke the structure 1.8747 back to the upside.
By doing so exposing the 1.8887. Above the 1.8887 there is more room for upside move towards 1.9076 Area.
Stop for this trade is placed just below 1.8673
GLT and trade with care.
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GBPCAD gave us great satisfaction during 2015:
- Our view was: BULLISH
- Oue Setup was: BULLISH (in three Part)
Part. 1 (If you liked this chart, please click on "I Like" button)
Part. 2 (If you liked this chart, please click on "I Like" button)
Part. 3 (If you liked this chart, please click on "I Like" button)
2016 VIEW (Analysis &...
After a double bottom formed above 1.85, there is a pretty good chance that PA will make the break of daily trendline and continue above 1.88. Should this happen look for bearish crab completion above 1.91. Failing to do so, a visit to 1.85 lows is very likely.
Since WTI price has a great impact on CAD, drop in oil price would weaken CAD and longing GBPCAD...
Very strong divergence between the market price and the RSI, which is approaching an oversold region.
I would go long now or wait until the RSI actually goes into oversold territory. Just posting these RSI divergence trades as ideas, I don't usually trade them but it will be interesting to explore this as a potential addition to my strategy.
See below for...
GBPCAD Buy Idea
After two false breaks this pair is creating a bullish convergence. We want to see a two wave pullback before going long to new highs.
TP 1 1.8887
TP 2 1.90
SL 2 pips + spread below last low 1.85
Price broke below the 50 week period moving average, signaling a change in trend.
Trend line was broken with a high momentum Bearish candle.
Price broke below 100 week period moving average, and retested this level as resistance.
Currently consolidated in an area of support.
If price can break below this level I will sell another position on this pair.
After...
USOIL, COPPER, and the CAD are all at a major resistance right now and selling off. I'm expecting a small bounce in GBPCAD into 1.95, which is a big resistance area, retest of the trendline and the .382 fib area. Also, the MACD has just crossed over and flipped showing bullish momentum. Now that we've also broke the counter trendline I'm looking to buy at 1.90...
