1. Price is trading below the 50 EMA on D1
2. Price is forming lower highs and lower lows
3. Price pulled back and retested the 50 EMA on the H4
4. Price is testing a downward trendline
5. Price is testing a recent support
5 confluences that affected my Bias on this trade. Hence im SELLING GBPCAD
FOLLOW ME FOR MORE TRADE SIGNALS
- Price respecting dynamic resistance
- Bearish market structure, lower highs and lower lows
- Rejection of 61.8 fibonacci level
- 1:6.8 risk to reward (RR) on this trade, let's see how price action develops
💡 Trade Idea
📉 GBP/CAD | Sell Limit Order @ 1.7432
🎯 Target Profit 1.7310
🛑 Stop Loss 1.74933
❌ Do not risk more than 1% of your account on each trade
🙂 Good Luck !
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