Hi Guys, This week we have this move on GBPCAD on our watchlist, Price has broken bearish on the 4hr as we can see. Price met a point of resistance ( roof of price) after its previous up move and is currently strongly sitting at point of support showing further bearish potential. We should look for a potential pullback to the broken point of previous support and...
its just sharing ideas dont enter with mine but with your own
Huge downtrend, so figuring either london or ny will see the up move than a drop
look at the head and shoulder of it and you can tell it about to go back up so get in the long now then do a sell then back to long
On the weekly time frame on the GBP/CAD pair chart, we see that from the top, we have a resistance of 1.75000. Since the beginning of the year, we have a side channel in the range of 1.70000-1.75000, and we can continue to expect such a movement of the GBP/CAD pair. All three moving averages are on the bottom line of the canal, just above 1.70000. In the last two...
Not too long ago in a previous similar Idea that didn't work out I was expecting price to go on to make higher highs and respect the uptrend market structure however price has made a reversal and now ill be looking for a retest to go short on this pair there is GBP Weakness.
Price has been in an uptrend on the 4H TF. However it is currently retracing within the upward channel. It has hit the 61.8% Fib level which is also a point of structure Short to whatever TP you feel comfortable but remember there is liquidity sitting at the 61.8% so a stop hunt may be possible. use good risk management