✨ GBPCAD: ITF CURVE ANALYSIS (12H) ✨ (DOWNTREND)
SLO2 @ 1.75699 ⏳
SSO1 @ 1.74981 ⏳ (SET AS AN SSO - let price pass before setting)
TP1 @ 1.73613
TP1a @ 1.7266
TP2 @ 1.71618
TP3 @ 1.7031
BLO1 @ 1.6996 ⏳
BLO2 @ 1.69233 ⏳
🔑
BLO = BUY LIMIT ORDER
ITF = INTERMEDIATE TIME FRAME
PA = PRICE ALERT
SLO = SELL LIMIT ORDER
SSO = SELL STOP ORDER
TP = TAKE PROFIT
NOTE: This pair is currently in an overall uptrend. However, the ITF (intermediate timeframe) shows us in a downtrend PB (pullback). For the professional trader, you know how to navigate this dilemma. For all else, ask your questions and I'll do my best to respond in a timely manner. Position size appropriately if you plan to take advantage of the opportunity.
Intermediate time frames (4 hours to 6 day):
— Offer a clearer picture of the underlying trend compared to short-term frames.
— Provide more opportunities for confirmation signals and technical analysis.
— Allow for more flexible trading schedules, trades can be held overnight.
— Suitable for swing traders and some positional traders.
SLO2 @ 1.75699 ⏳
SSO1 @ 1.74981 ⏳ (SET AS AN SSO - let price pass before setting)
TP1 @ 1.73613
TP1a @ 1.7266
TP2 @ 1.71618
TP3 @ 1.7031
BLO1 @ 1.6996 ⏳
BLO2 @ 1.69233 ⏳
🔑
BLO = BUY LIMIT ORDER
ITF = INTERMEDIATE TIME FRAME
PA = PRICE ALERT
SLO = SELL LIMIT ORDER
SSO = SELL STOP ORDER
TP = TAKE PROFIT
NOTE: This pair is currently in an overall uptrend. However, the ITF (intermediate timeframe) shows us in a downtrend PB (pullback). For the professional trader, you know how to navigate this dilemma. For all else, ask your questions and I'll do my best to respond in a timely manner. Position size appropriately if you plan to take advantage of the opportunity.
Intermediate time frames (4 hours to 6 day):
— Offer a clearer picture of the underlying trend compared to short-term frames.
— Provide more opportunities for confirmation signals and technical analysis.
— Allow for more flexible trading schedules, trades can be held overnight.
— Suitable for swing traders and some positional traders.
Note
PA on this one has pulled back to our entries at SLO1 & 2 but I believe I see the hope of a PB on this trade to get some profits prior to this pair going long for a long time. Anticipatory -SL has been hit but I'm still holding to and currently reevaluating. Stay tuned.Note
YOU CAN'T WIN THEM ALL......BUTI know we'll have another opportunity to bag some profits on this pair soon. I'll be reanalyzing and presenting my findings after a bit. Stay tuned.
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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.