GBPCAD , Bearish according to VSA unless it breaks the level
**Analysis for GBPCAD Short Trade:**
- **Volume Spread Analysis (VSA):** VSA suggests a downward move for GBPCAD, indicated by high volume and impulse buying candles. We will wait for a no-demand candle with low volume or an upthrust candle with low volume to confirm the entry.
- **Entry Confirmation:** The probability for a sell position is high, provided the price does not break above the upper resistance level marked on the chart.
- **Target Projections:** If the upper level is broken, potential targets TP1 and TP2 are marked on the chart. These levels are expected to be reached in the coming week.
- **Volume Spread Analysis (VSA):** VSA suggests a downward move for GBPCAD, indicated by high volume and impulse buying candles. We will wait for a no-demand candle with low volume or an upthrust candle with low volume to confirm the entry.
- **Entry Confirmation:** The probability for a sell position is high, provided the price does not break above the upper resistance level marked on the chart.
- **Target Projections:** If the upper level is broken, potential targets TP1 and TP2 are marked on the chart. These levels are expected to be reached in the coming week.
Note
The price went bearish as planned and hit our target with a gain of 140 pips. Enjoy the day!Note
A gain of 220 pips till now. Next target is 1.75Note
Crossed 1.75 , currently at 1.745. Closing this trade now.
300 pips gained.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.