GBP is like a dirty wh#@e... Trade with protection!It doesn't take a genius to work out and spot key levels on this pairing as historically price respects them, and once again we can see price respecting our support and resistance levels ( green lines ) on this chart.
More recently price has respected a lovely trend line ( TL, Blue line ) that has formed, price has bounced off this TL 5 times in the past 6 days making this a strong TL that must be respected.
From here and taking all factors into account we can only see price continuing to respect this TL all the way to out resistance line, and once at resistance we can see a possible break through resistance pushing price higher.
Please remember to trade with some protection as GBP is like a dirty wh#@e, And you wouldn't get playing around with them without protection would you? ;p
Gbpcadbuy
GBP CAD LONG like Ron Jeremys d#@kWe can see a really strong resistance level that's been respected on the 3 charts, 4H, 1D, 1W but price has also been respecting a lovely trend line ( TL ) in an uptrend, Now most retail traders would probably go short because of this resistance but if you look closer all things point to a buy and if we do manage to break such strong resistance we could see a sizeable movement to the upside.
Buying power is far too strong long-term to even consider a long-term short, The current candles on 4H are big and bullish, 1D we have a small bodied bullish candle but with a long lower shadow indicating sellers tried to push price lower but were not strong enough, 1W its only the start of the week but already price has been down and respected our TL.
Short term we could see a retest of our TL on the 4H timeframe, so we will be in a very short term sell... After that we are holding long.
In our long trade we will have a very tight SL, because this is how much we trust our setups, also if things don't go to plan then we have limited losses.. RISK MANAGEMENT IS KEY.
Open your mind and stop thinking 1 dimensional and you will change the way you see charts and the world!
Entry, SL and TP are reserved for our clients, if you are interested in joining our team then give us a message.
P.S if you don't know who Ron Jeremy is Google him... but make sure your partner isn't around haha
GBP CAD GO 4th and multiply1.72568 resistance and 1.71336 support we placed these levels on the 4h chart, As you can see we have the 1H, 1D and 1W charts also open with these same support and resistance levels and on each different timeframe you can see they are well respected.
1H gives us a strong buy signal with an engulfing ( latest candle covers the whole of the candle before it ) BULLISH candle.
1D also gives us a buy signal even though the last candle formed is a biggish bodied bearish candle it also has a large lower shadow which indicates that bears tried to push price through our support but failed, and taking into account the lower timeframes pointing to a buy then the daily candle also has bullish power.
1W is also a big buy signal, the previous candle has a large lower shadow which broke through our support level but the bulls came and pushed the price higher towards the end of the week and price closed just below our support level, the bulls will continue to push price higher at market open and carry on this trend.
So all in all we are looking at entering a....... Yes a buy, nobody can be stupid enough to think a sell from our analysis rite? Well actually it depends how much tap water with fluoride in you have been drinking ;p
We are waiting for the perfect enter on this position, once we enter we will send the signal along with SL and TP to our clients
GBPCAD / 4H / POTENTIAL CYPHER PATTERNPAIR: GBPCAD
TIME-FRAME: 4H
TRADE: CYPHER PATTERN
Waiting for a Long opportunity on the GBPCAD 4 Hour time frame.
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GBP/CAD just made fake broke of 2 months low 1.7052GBP/CAD just made fake broke of 2 months low 1.7052. On the chart, we can see that currency rate bounced up on 725 pips from that level.
For me, it is a safe place where I can open a Long position.
I opened buy at: 1.7064
S/L: 1.7022
T/P: 1.7355
Many of you wrote to me about loses on USD/JPY.
Dear Friends, you need to know that I don't guarantee you that every deal will be in profit. I am a trader, not a scammer. Sometimes there can be even a month closed with loses.
Also, you need to know that even with 40% of profit deals I still earn money because my minimum risk-reward is 1:4 or more. As a trader, you can trade only probabilities.
Also, you need to know I work in FX broker. I sew many traders who make 100% every month but in 99% cases all of them blow out all their money in 3 – 6 months and live trading after that.
That why I totally recommend to you to trade with proper risk management.
GBPCAD Short term BuyHowever overall i am bearish GBP markets since GBP index is weaker across the board, but for now i am looking to buy this market around this support and will hold till my green MA, thereafter i expect it to start fresh falls.
Look for buys if you have your trading strategy.
Trade Safe.