GBPCAD is approaching a support zone. Along with that the 100D EMA at 1.7325 can also support the price.
Hence, traders can long for BUY at 1.7315-1.7345 with SL below 1.7265.
TPs can be set at 1.7400 and 1.7550 respectively.
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Usually, the definition of a rising trend is that each new rise will be higher than the previous one and so on, here it does not happen. The price does not succeed in breaching the resistance in the price area 1.7760, but what is going on here is after each increase of the gbpcad comes a correction that is smaller than the previous correction And so on, which is a...
We can see a really strong resistance level that's been respected on the 3 charts, 4H, 1D, 1W but price has also been respecting a lovely trend line ( TL ) in an uptrend, Now most retail traders would probably go short because of this resistance but if you look closer all things point to a buy and if we do manage to break such strong resistance we could see a...
TRADE: CYPHER PATTERN
Waiting for a Long opportunity on the GBPCAD 4 Hour time frame.
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