Setup reasons 1. support level has been touched and bounced 2. price has left a pin bar to signal a reverse 3. bullish candle show a change in momentum 4. bounce of long term strong trend line
GBPCAD had strictly breakout the support level on day chart and week chart. It may go up to test resistant level (previous support) or not, but I will keep looking for high probability short breakout on lower time frame based on MA and trendlines until price reaching next support level. It's a star trading pair for trend traders in this week.
Hi guys, just sharing my idea and seeking for advice too. As i see it ( you might not see it as i do ) we should expect some retracement of the major up trend that this pair is having. To justify that we have price going below 200ema, break of previous structure, and a possible head and shoulders pattern, our target could be 0.5 retracement, and zone of support...
Friends, While the predictive/forecasting model is posting an early bearish market reversal signal, there are also fundamental and technical reasons to consider a potential bearish downturn in this $GBPCAD pair FUNDAMENTALS: Central bank decision regarding UK is expected to maintain interest rates unchanged. This implies that $GBP won't gain rally without...