Price is testing our support in line with our horizontal overlap support, 61.8% fibonacci retracement and 78.6% fibonacci extension where we could see a bounce to our first resistance level. Attached is the written version so do check that out as well and let us know what you would like to see next!
🔸 4H CHART EXPLANATION: . . 🔸 Price has been moving on a range for a while. . 🔸 Now, it is breaking the Support Zone. . 🔸 It has potential to make a downside move towards the Ascending Trendline. . 🔸 Will look for a lower timeframe bearish setup. 🔸 DAILY CHART ANALYSIS:
Price is below the Daily, 60 and 15 KS as well as the cloud. All of our 4 Horseman are aligned. This is a Type 1 trade with a High probability and good RRR. BO Entry = 1.7201 Stop = 1.7226 Risk = 25 pips Profit target = 1.7120 (the daily projected low) Reward = 81 Pips RRR = 3.2 - 1 I would appreciate if you leave a comment or like as a thank you Allen
GBPCAD rebounded from supply zone at level 1.7700 Pair respects downtrendline Price is based below key level at 1.7335 and below HVN at level 1.7471 which indicates that pair is in distribution phase Pair is forming descending triangle pattern Below SMA 100 MACD shows weakness in bullish momentum RSI is below level 50 It's expected for coming bearish wave to...
Where would you enter your position? This is my technical analysis on this pair – applying a breakout strategy on the 1H timeframe. Only if all the rules of the strategy are met, will I enter a trade on this pair. Updates will be posted. #breakout #swing trading #forex
Hello my fellow traders, hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into the analysis. As we can see, the price is currently close to its support. One can wait for the confirmation. Let us know your views on this in the comment section. Thank you all. There is good news for...
🔸 4H CHART EXPLANATION: . 🔸 Price is moving sideways on the 4H chart and it is about to face the Support Zone. . 🔸 We will trade this pair based on the reaction in that zone. . 🔸 If it is broken, then there is potential for a downside move towards the Ascending Trendline, and, if price bounces, then we could see a bullish move towards the Resistance Zone. . 🔸...
Gap in the market with price consolidating above it. Potential opportunity for a short from 1.74986 Entry: 1.74986 TP: 1.73874 SL: 1.75349
Price retracing into key fib levels from the recent 500pip rally. Also at first area of support. High probability trade setup here offering a 3.2 R/R.
Greetings. Please leave a Like if you like the idea. GBPCAD Long From Demand Zone with 1% risk only. Peace Out! Not a Financial Advice
GBPCAD rebounded from supply zone at level 1.77 Price retested broken uptrendline, then bearish movement occurred MACD shows negative momentum RSI is in downtrend It's expected for coming strong bearish wave to test the key level at 1.6985
Welcome to our weekly trade setup ( GBPCAD )! - 1 HOUR Very bullish price action taking out several highs. 4 HOUR Overall sideways waving market structure, expecting a break to the downside. DAILY Price action slowed down at range high, good short entries! - FOREX SWING SELL GBPCAD ENTRY LEVEL @ 1.75330 SL @ 1.76810 TP @ 1.73110 Max Risk. 0.5% -...
Price currently at resistance, offering a low risk - high reward setup. We will be looking next week if we can see any rejection signs from this area. From a COT perspective banks continue to reduce their exposure to sterling despite the recent gains. CAD is entering oversold territory and could see some relief going into next week.
CURRENTLY HOLDING AGAINST DAILY TRENDLINE HEAVILY OVERBOUGHT ON 1 HOUR TIMEFRAME TESTING 61.80% FIB RETRACEMENT LEVEL CURRENTLY FORMING A DOUBLE TOP ON 30M TIMEFRAME WAIT FOR PULLBACK AND MACD CONFIRMATION BEFORE ENTRY AS A BREAKOUT HERE COULD CREATE NEW HIGHS