GBPCAD SHORT IDEA Key highlights
After price took out the liquidity on buyside in 4hr timeframe , now I'm expecting price to out the liquidity on sellside
Gbpcadanalysis
GBPCAD Sell Trade opportunity GBPCAD Sell Trade opportunity
its recent breakout major support line is a good opportunity to sell here or retracement some pips as I mentioned in chart
GBPCAD BUYING OPPORTUNITYWe can see thar the GBPCAD is an uptrend and it has broke its structure . Now we can wait for price to come back to the 1.61100 level for a buying opportunity .
ONLY FOR EDUCATIONAL PURPOSE
GBPCAD ANALYSIS OVER H1 CHART.GBPCAD continues falling down and looking for more selling opportunities in GBPCAD, PROPER MONEY MANAGEMENT SUGGESTED.
GBPCADThe market has reversed from strong weekly support in 4 hrs. we took this trade so soon because of some candlestick pattern in the higher timeframe. If stop hits then we will look for another entry.
LOOKING FOR SELLS ON GBP/CAD Looking at gap/cad we can see that on the long term trend we can see we have been in a range for around a year we can see this on weekly and daily
chart so now we can see we have taken out some liquidty at the top side and we do have a gap on the currency pair which is lower around the 1.68900 but firstly we have to break the 1.72 level I do think we will at least go down to the 1.72 area if broken our next target can be 1.70 then after that we can target the lower gap on the currency pair
We do think that the bullish run in gbp pairs could be over for a bit as we have seen. most gbp pairs fly up from the start of the year I do know believe we can see a pullback meaning all gbp pairs could sell off and out of all of them I think gbp/cad is looking to be like a really nice sell so lets wait and see during the week I will look for a sell down to the 1.72 region
TARGETS :
1.72 = key level of support
1.69 = gap fill currency
I will be looking for sells from a better price
GBP/CAD - BUY ZONE 1.73000-1.73100 - BUYS CONTIUATION Looking to buy gc from the region of interest
Can see gc has been looking to push higher to minor resistance we could see one more correction to our buy zone there is a candle imbalance I will be looking at buying at this point
Confluences on buys on GBP/CAD
1. In consoldation but it looks to go higher overtime looking at minor resistance as a target
2. 78% - could come back into this region orders have been Collected in the past
3. S1- intraday 20/01/20
4. orders in this area
5. ma's looking bullish
reasons for targets (TAKE PROFIT)
1. -0.50
2. r2 intraday
3. close to minor resistance
4. APM maxed out
BUY LIMIT - 1.73000-1.73100
STOP LOSS - 1.72950
TAKE PROFIT -1.74100
RISK TO REWARD 1:7
DO NOT ENTER THIS TRADE IF WE BREAK BELOW OUR STOP LOSS THIS TRADE WILL BECOME INVALID
( PRICE CAN GO STRAIGHT UP SO WE MIGHT GO TO TP BEFORE OUR ORDER GETS FILLED)
SELL GBPCAD TRIANGLE IS SPOTTED!!We have a triangle pattern formation in GBPCAD daily chart and if our strategy rules are satisfied then we will take a short here for target of 1.73300.
THIS CAN BE A GREAT OPPORTUNITY!! DON'T MISS IT :)
Don't miss the great sell opportunity in GBPCADTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.7125). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPCAD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 42.
Take Profits:
TP1= @ 1.6958
TP2= @ 1.6635
TP3= @ 1.5874
SL: Break Above R2
Breakdown from Ascending Broadening WedgeGBPCAD after retracing 38.2% of the 6th May to 12th august trend has now fallen below the ascending broadening wedge pattern, which makes it vulnerable to selling up to 1.60690. The stop loss for the trade will be above the high of the previous session i.e. at 1.63747.
