Circled in purple you can see how price hit our support zone and then bounced, we can see price making a bullish run up to our TP1 zone ( 1st green box ) this is 100 pips away, so even though this is a little late entry there will still be some good pips to be caught. After TP1 is hit there is a possibility that price might also hit our TP2 ( 2nd green box )...
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
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Key levels that price has been respecting over and over again, trendline has been respected and touched 3+ times so price could come down to retest this again, At the moment price is caught in between 2 key support and resistance levels so we will be waiting to see if price goes bullish or bearish.
Our overall outlook is bullish, so this could come after a retest...
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...
It doesn't take a genius to work out and spot key levels on this pairing as historically price respects them, and once again we can see price respecting our support and resistance levels ( green lines ) on this chart.
More recently price has respected a lovely trend line ( TL, Blue line ) that has formed, price has bounced off this TL 5 times in the past 6 days...
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...
1.72568 resistance and 1.71336 support we placed these levels on the 4h chart, As you can see we have the 1H, 1D and 1W charts also open with these same support and resistance levels and on each different timeframe you can see they are well respected.
1H gives us a strong buy signal with an engulfing ( latest candle covers the whole of the candle before it )...
PAIR: GBPCAD
TIME-FRAME: 4H
TRADE: CYPHER PATTERN
Waiting for a Long opportunity on the GBPCAD 4 Hour time frame.
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GBPCAD IS NOW COMPLETING A REVERSAL
WAIT FOR THIS TO COMPLETE AND THEN
ENTER FOR THE LONG
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GBPCAD has retraced to Nicely on this.
i am expecting it to break down soon, so keep
you eye out for this one.
See previous analysis
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