It's a strong resistance we a knocking at here. Even though CAD came out with disappointing numbers yesterday and GBP were a mixed bag - I still believe CAD is stronger and we'll see GBP continue down. It'll not surprise me if it jumps up today, but when that reverse happens I am in for a short.
Late to short, early to long. for a lre , it is best to enter at the place where buying pressure is high. I am looking at 1.607 zone
Any low beneath (W) will do. So long as it holds the Jan low, looking for higher.
Still correcting January's 5 up. Evidently in c of (Y). Looking to buy sub 1.62
letZtry;) 4HR EMA seems saved the bears but i prefer this direction atm:)
A deeper correction towards 1.62 looks very likely now, as we've invalidated a 5 wave advance from Monday by crossing w1 at 1.6363. This pair is very bullish from a new low at 1.62. See my video for a detailed view.
Within a bull flag, currently a three wave move from the local low (c/2). I am looking for this to continue up, so long as price doesn't intersect with wave i at 1.6363. Alt is a slightly deeper correction, but for now immediately bullish.
This trendline continues to be in play for GBPCAD. on the hourly chart we have a wedge/triangle taking shape that could break either way. We've been bearish here many times, so im leaning and biased bearish, however a bullish breakout is certainly possible. Waiting on further breakout confirmation. Lets see. Happy trading!
Triangle setting up it looks like. Looking for the bounce off this boundary for confirmation of this short. lets see
price is heading towards this flip zone TL ..also we are near the big daily TL .. i see 2 possibilitys 1 ) price gets rejected from one of the two trendlines i mentioned above..looking for sell this beast after upward TL is broken and price closed under it 2) we see a break of the daily TL which would let me look for a long either after a pullback or a break of...
There's some great profit potential here, however it's going to be a very tricky set up to take. Let me explain. The gbpcad looks to be hunting out the upper missed monthly pivot at 1.6680. IF and only IF it hits that upper lever FIRST will I take the trade. If 1.6680 is hit in the next few hours, I'll sell/short at that level targeting 1.6460. It's that...
GBPCAD appears it will close above the middle Bollinger Band. I will enter at the open of the market on 1/20/2017. RSI is above 50. SL set below previous day body.
As you can see in the trade, I've placed the trendline showing the current momentum which is a downtrend but however, it turns into sideways momentum. Two double bottoms appear as well some strong upward move. Hoping to take profit around the 1.75 area and stop loss is placed at 1.58338. Just a noobie btw so I don't want no shtick from this but do however...
Long here at 1,6354 at daily S1, quarterly pivot, monthly S1 and weekly S2 pivot support. stop loss 1,6303
Hello Traders, Here is a great long opportunity in GBPCAD with a very small risk exposure. Depending on where price opens on Sunday, it can be a great buy. Best, Chartistry