GBPCAD Analysis. Plan for next week.
Hello everyone. i want share my idea about GBPCAD.
In my last analysis which was day trade signal price reaction in first couple hours was perfect but then we got strong price push up which stopped me. GBP is still strong bearish, in September we had price pretty strong fall which can give me Bearish signals and ii will try to catch this movement.
I marked some Daily resistances and used my Fibonacci tool from last High to last low, my Fibonacci levels showed me some good entry points but the best entry point i think will be 71.00 level which is exact at 4h resistance.
Downside 4h trendline is broke but it really don't give me any sing of trend change after this fall. I will try to short this pair again and if it will stop me then i will try another short entry point because we have 3 Daily strong resistance.
I will share Signal type this trade if price rection will go with my prediction, first i will wait reaction at the level and than i will share.
Always manage your risk and make your own research!!!
In my last analysis which was day trade signal price reaction in first couple hours was perfect but then we got strong price push up which stopped me. GBP is still strong bearish, in September we had price pretty strong fall which can give me Bearish signals and ii will try to catch this movement.
I marked some Daily resistances and used my Fibonacci tool from last High to last low, my Fibonacci levels showed me some good entry points but the best entry point i think will be 71.00 level which is exact at 4h resistance.
Downside 4h trendline is broke but it really don't give me any sing of trend change after this fall. I will try to short this pair again and if it will stop me then i will try another short entry point because we have 3 Daily strong resistance.
I will share Signal type this trade if price rection will go with my prediction, first i will wait reaction at the level and than i will share.
Always manage your risk and make your own research!!!
Trade active:
i open short position in this trade
Comment:
Price action at 4h time is perfect and i like last 4h candle close after reaction for that i decide to add one more position, resistance is strong what i see, it made some liquidity and going down now it need to brake last low if we are right.
