After reaching 1.78, gbpcad corrected aggressively and found support at 1.7 zone. Even though buyers tried to take control on Friday, the day ended with a bearish engulfing candles formation. A clear break of this level (1.70) exposes the support from 1.67 Strategy: Sell the market Keep SL tight just above 1.71 TP at 1.6700
SL: 1.71989 sell 1.69560 TP: 1.65127 sell three black crows 1 hr chart
Big Corrective continuation pattern , Wait for 3rd Touch Confirmation to sell in Downside.
GBPCAD bounced off 1.69650 where it could potentially rise further to 1.72308. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone...
In the video our lead trader, Denis Popivoda, explains a trading plan of this initially swing trade, that might be compounded into a day trade (and swing trade).
GBPCAD bounced off 25284.1 where it could potentially rise further to 26709.6. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530)....
- Waiting for break of support - Market is downtrending - Approaching 2 key levels
So I was watching this bear flag and saw it break the 2nd trend line so I am going to take this trade at break of the new low. (a little late) There is plenty of available pips here to the south. If you also considering fundamentals, GBP still has Brexit woahs and a new war poses a threat to oil which is good for CAD.
GBPCAD approaching support at 1.69895 where it could potentially rise further to 1.72308. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530)....
Welcome to our weekly trade setup ( GBPCAD )! - 1 HOUR Bullish reaction to previous support zone. 4 HOUR Price action too slow to break back to the upside. DAILY We need a pullback to the downside first, good short entries! - FOREX SETUP SELL GBPCAD 1ST ENTRY @ 1.72030 2ND ENTRY @ 1.72620 (wait for trigger) SL @ 1.73660 TP @ 1.70240 RR: 1.1 / 2.35 Use 0.5%...
GBPCAD bounced off 1.69895 where it could potentially rise further to 1.72284. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone...
According To Fibo Retracement and Resistance Level Arround (1.73200-1.73700) The Price Move Near Downtrend line
GBPCAD bounced off 1.69895 where it could potentially rise further to 1.72284. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530)....
Waiting until GBPCAD finishes retracement. I see that it will retrace at 61.8 golden ratio where the 4th wave was before. Note that retracements likely end where the previous wave 4 is. Other than that I will wait for it to breakout of 5th wave to become ultimately bullish.
This is what I am looking at this morning... As you can see, a clean trendline break on that upwards trendline. There is a nice area of resistance above if the retail sales data at 9.30am GMT comes in positive. However, we have the BoE interest rate decision at 12.00 GMT which is expected to remain, but with more members voting to have a rate cut! If the rate...