Sorry for the late publishing. I have to get back in the habit of doing these. I didn't think it would trigger so soon and, well, you know... Set and forget. This is a Demand Zone on the 4h chart.
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. Thank You !!
Charts speak the loudest!!!
Price is approaching our first support (horizontal swing low support, short term ascending support line, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce to our resistance (horizontal swing high resistance, 50% Fibonacci retracement) might occur. Stochastic is also seeing a bounce where we might see a corresponding rise in price....
We have an inverted head and shoulder type setup on gbpcad after an bullish impuse. this comes at out first level of resistance turn support so its a decent opportunity espeicially if we break the neckline.
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. Thank You !!
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. For daily signals, updates and ideas, check my signature at the bottom of this idea.
Overall trend is up Solid place for SL below 1.7315 Target 1.7650 Zone
As you can see price has bounced of strong support ( red box ) and is on its way up to our next area of strong resistance ( green box ) This should be a short trade for you and could make you around 60-80 pips, but get o quick as price is making its way up now. I would say that if you are trading this pairing I would put a tight SL on as we have some high impact...
As you can see we have marked on our charts a very strong support level, this kind of support level goes the gym 10 times a day and sprinkles steroids on it cornflakes ( nothing wrong with that ) ;p We have pointed out for you with purple arrows times price tried to break this support but failed and bounced, now price is nearly at this steroid support we are...
GBPCAD on the daily chart is gearing up to start a new daily impulse up.