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Gbpcadforecast

GBPCAD analysisWe have had a good period of bearish momentum. Price is currently in a correction phase. Using the trendline rules of entry, a buy position should be actively running, but because I saw signs of a pennant forming, I had to wait. The pennant has clearly formed. This chart pattern is neutral and price can go either way, which invalidates entries solely based on the trendline strategy. First/ minimum TP target should be the length of the pennant's back. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Exercise proper risk management and be patient. #TradeLikeMagnatrio
by Magnatrio
GBPCAD: Flow into ReversalThis is a lower timeframe description of how we can approach this pair in relation to my last related idea. Please ensure you understand our daily outlook before you proceed with this idea. I will be looking to clear the minor resistance before bouncing from the demand region down into our area of interest to buy from. Leave a comment and/or message us on how we can improve and provide better content, we are open to suggestions to create a better experience for you! Keep in mind that the analysis provided is not 100% accurate and that you can never be certain of the markets. This information given is not financial advice, always do your own research. Thank you for reading, Cheers to many pips!
by AlkalineFX
4
GBPCAD: Reversal PointThis pair gave a clear sell-off signal at the resistance point. If you understand order collection and liquidity you should have been able to ride this wave down without an issue. This leads us to our next question, where is the reversal point? Similar to the price action found at the resistance, we can expect this at the support region. I have illustrated the potential liquidity grab before we see retracements on the bearish move. Leave a comment and/or message us on how we can improve and provide better content, we are open to suggestions to create a better experience for you! Keep in mind that the analysis provided is not 100% accurate and that you can never be certain of the markets. This information given is not financial advice, always do your own research. Thank you for reading, Cheers to many pips!
Short
by AlkalineFX
7