Trading suggestion:
". 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."
Technical analysis:
. GBPCAD is in a downtrend, and the continuation of the downtrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
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...
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 :)
GBPCAD 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.
