GBPCAD > Detailed Analysis for A Buy!!
Analysis on #GBPCAD
The GBPCAD paused here after reaching the March-2020 low and might be forming a bottom inside this wedge/pennant.
We have a strong resistance near and if I will be looking for a buy I will wait for a break and close above the upper resistance level of 1.6624
Trading Plan:
>> If the GBPCAD break and closes above 1.6624 resistance level I will then look for a trend continuation pattern on the lower time frame to get in a buy trade with good reward to risk if the rules are met because then I will have a strong belief that we might continue bullish until 1.6700.
⚡ Be aware due to the global tension we currently live In, markets are not following or respecting chart patterns and technical analysis.
________________________________________
💭 | Comment your thoughts below, I always answer.
📥 | Feel free to message me if you have any questions.
Thanks for your continued support!
The GBPCAD paused here after reaching the March-2020 low and might be forming a bottom inside this wedge/pennant.
We have a strong resistance near and if I will be looking for a buy I will wait for a break and close above the upper resistance level of 1.6624
Trading Plan:
>> If the GBPCAD break and closes above 1.6624 resistance level I will then look for a trend continuation pattern on the lower time frame to get in a buy trade with good reward to risk if the rules are met because then I will have a strong belief that we might continue bullish until 1.6700.
⚡ Be aware due to the global tension we currently live In, markets are not following or respecting chart patterns and technical analysis.
________________________________________
💭 | Comment your thoughts below, I always answer.
📥 | Feel free to message me if you have any questions.
Thanks for your continued support!
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.