- Price breaking and retesting our supportive trendline, we are now expecting a move to our stress zone.
- Preço a quebrar e a efetuar um novo toque na nossa suportive trendline, estamos de momento a aguardar um movimento até á nossa zona de stress.
Here is the Top-Down Analysis of GBPCAD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 41 - 05 Oct
M > Market is moving in a well respected horizontal structure (of course with minor breakouts). Price had dropped to monthly support in middle of the structure, faced rejection and moved up.
W > On its way down price created an...
The bullish trend line broke, but the region that it broke is strong support zone, the trend broken from this region gets support and strengthens so we set our risk and profit rate logically, we will watch and see.
Please like the idea for Support & you can share your ideas and charts in Comments Section .. !!
- Price breaking our consolidation box and is now heading for a retest, we are expecting more downside after this same retest, wait for an entry confirmation before entering, look at the lower timeframes (such as 15min).
- Preço a quebrar a nossa box de consolidação e está de momento a caminho de efetuar um retest, estamos à espera de um drop...
- Price breaking our supportive trendline and showing some oversold signals, the ideal would be to wait for a retest of this resistance zone and then look for confirmations for a short position.
- Preço a quebrar a nossa supportive trendline/supportive zone e a demonstrar alguns sinais de estar oversold, o ideal neste momento seria aguardar pelo...
A similar scenario with GBPJPY: after hitting a Double Bottom in June 2020, The Pound began to build a Reversal structure this month (July 2020) as it Breakout of the neckline (1.69750 level) last week.
Tendency: Temporary Uptrend ( Bullish )
Structure: Double Bottom | Support & Resistance
Observation: i. Our Double bottom describes a change in trend which...
Enjoy a free signal before the week gets started
Feedback, Likes, comments, and shares would be appreciated.
Sell Limit: 1.7150 (Best entry takes the most patience)
Stop loss: 1.7250 (100 pips risk)
Take profit: 1.6680 (470 pips reward)
Risk: 1% to 3% of account (recommended)