GBPCAD is in a uptrend .
Price has already touched support on trendline and is currently making its way up to resistance
Bullish cycle is at level 1 and I await a breakout to upside
See this detailed analysis to have an insight as to why I am taking it long.
Listen, This pair needs to move militant and tank.
Short positions only!
-Manual execution style via the long term resistance
- Sell limit order placed at that price
-Sell stop limit placed just below the break of the support
H4 micro shows a beautiful head & shoulders pattern to take a short position
Possible re-entry at 1802 on the M15 as per consolidation.
Take profit at 1742.
Get your pending orders ready as we about to shoot up.
I'll continue to update this trade.
- On the smaller time frames, we've touched a crucial support level.
- Inverse H&S PATTERN indicating bullish momentum.
Here are some reasons as to why Im taking a long position
- Trendline support (fakeout as indicated)
- Inverse H/S pattern
Ill update this analysis as we go along =)
Previously i posted a gold ahort which was completely disrespected.
Here is the updated version, ill continueto update this idea if anything rapid occurs
-price looks exhausted from yesterday, I have 1773 as a resistance for a short.
Ill update this trade regularly just incase it no longer valid!
- Price respecting the trendline pretty well
- Inversed Head & Shoulders pattern on the H1
-Price broke out support and yet to be tested.
I'll update this trade idea regularly =)
- Price broke out of the double bottom on the M30 timeframe.
- That resistance now becomes a level of support.
- Additional accending trendline to support the long
