Three clear rejections of the descending trendline, Currently in the 'golden pocket' area of the fibonacci. Would be looking for a nice close below the 50MA before entering a short on this pair
Selling at 1.74262, potential 80 pip target with 40 pip stop, 1:2 or 1:3 carrying over to the next day.
We have a pullback to retest the previous hights .. which gives us a good entry point for a sell to retest the previous lows highlighted on the charts. Remember, use your entry strategy, and risk management plan as you excecute. Goodluck trading.
this analycis for sell trade..if you get proper confirmation put a sell trade..thank you
If we close bellow that zone, i think we can have some downside incoming. We have a formation of a Head and shoulders pattern, we have a break of the neckline, and now can be the retest, for the downside. If we break the zone, i will be looking for buys.
Bears in control, Break 4 Uptrend, weakness appears, the pair retest then falls down
GBPCAD expected to rise up to 1st resistance at 1.76955 where it could potentially react off and drop down to 1st support at 1.71778. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Sorry that I didnt post it earlier but u can make an entry after 1H or 4H bearish closer candle.
Break and retest of ascending trendline, rejection of 50MA, 0.618 FIB and the previous support, now turned into resistance zone. Looking for a sell down to the 200MA which lines up with previous descending trendline
Waiting for candlestick rejection at key level and then you can sell. Always manage your MM. P.S. Key Level trading system.
Hello Traders, I come with the 3rd analysis on my new strategy that I developed for the last 15 months. I will entry after the candle will close on H1, if it will be bellow the support level. After this candle can make a retracement and after to go on sell. Support the idea with like and follow for more ideas! Enjoy it! PS : Is my vision, make your own choices.
GBPCAD is approaching its resistance at 1.76955 where it is could reverse down to its support at 1.71436. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
We look for the drop. We have a point of interest on 30M TF. We build up liquidity, so we either run from now down, or spike up, clear liquidity above and then run down. This will melt beautifully once oil start pushing up. Taking a risky entry right now, and looking how the price action will react.
📢GBPCAD 1H - Technical Breakdown 📈Price action around the current market price is testing the descending triangle key support floor at 1.74930. This is the 4th or 5th time this level has been tested. If this level is broken to the downside bearish momentum will undoubtedly ensue. 📈A short opportunity from the current market price presents a 1:3 RR trade aiming...