GBPCAD Long
As the strong resistant level (upper red line) holds, price moves towards either the weak support (yellow) or strong support (red lower line ). Assuming that the yellow support will hold, a nice long position opportunity could occur. This long, would be confirmed IF 1.71 is broken upwards.
The other scenario (as I see it) is a short opportunity after breaking the yellow support. IF the yellow support breaks, the short entry should be if the 1.70 is broken.
Summary;
Long:
Entry: 1.709
Stop Loss: 1.70
Tp1: 1.726
Tp 2: 1.739
Short:
Entry: 1.699
Stop Loss: 1.704
Tp1: 1.689
Tp2: 1.675
(disclaimer, do not invest more than you can afford, It is an idea NOT a financial advice)
The other scenario (as I see it) is a short opportunity after breaking the yellow support. IF the yellow support breaks, the short entry should be if the 1.70 is broken.
Summary;
Long:
Entry: 1.709
Stop Loss: 1.70
Tp1: 1.726
Tp 2: 1.739
Short:
Entry: 1.699
Stop Loss: 1.704
Tp1: 1.689
Tp2: 1.675
(disclaimer, do not invest more than you can afford, It is an idea NOT a financial advice)
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