GBPCAD Possible Long
Possible Golden TK Cross on daily timeframe may send this pair flying. My entry point was a bit risky due to the bearish cross on the daily but this pair found some good support off the weekly level (touched TK on the weekly and bounced right up). Given that, I found a good entry point on the 4hr timeframe that allowed me to have great RR ratio. The momentum of the bounce has this price almost ready for a golden cross.
If we follow the momentum on this pair, the golden cross on the daily timeframe may yield a bullish golden cross on the weekly level pushing this pair to higher levels. If this occurs, the weekly levels of .8400 could be possible. This would coincide with the monthly bullish cross, retest of both Kijun Sen and Tenkan Sen to the upside.
Entry: .73586
Stop: .7300
TP1: .76450
TP2: Open
If we follow the momentum on this pair, the golden cross on the daily timeframe may yield a bullish golden cross on the weekly level pushing this pair to higher levels. If this occurs, the weekly levels of .8400 could be possible. This would coincide with the monthly bullish cross, retest of both Kijun Sen and Tenkan Sen to the upside.
Entry: .73586
Stop: .7300
TP1: .76450
TP2: Open
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