GBPCAD > Detailed Analysis for A Buy!!
Updated
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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