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
Gbpcadsetup
GBPCAD 4H BUY PROJECTION Reason Behind Bullish
1. Inverted Hammer which Pushes Higher
2.Obey Trendline & Support 1.70906
Overall Possible Outcomes
GBPCAD BUY 1.7098
SL 1.7020
TP 1.7220
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
