". There is still a possibility of temporary retracement to the suggested resistance line (1.7338).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. GBPCAD is in a downtrend, and the continuation of the downtrend is expected.
. The price is above the 21-Day WEMA, which...
This is my view on this pair for the next days
I remind you that this is only a forecast based on what current data are.
Therefore the following signal will be activated only if specific rules are strictly respected.
If you follow my strategy you will be able to identify the right filters and triggers to enter...
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 !
The price was trading to the downside by posting lower lows and highs. Recently it posted a correction count in a form of a bearish flag pattern. We have an area of confluence...
A solid week setting up here at forexinsightsuk. We've entered a couple of trades this morning, all which will take a little time to play out but this is by far one of our deepest running live trade at the moment. GBPCAD has started melting with our analysis and is currently sitting around +30 pips in profit.
We will update all our positions and entries as we go...