Gbpcadforecast
gbpcad rejected by the golden 618. cleared for a bearish 400 pipprice rejected the fib 618 level at 1.7474 and made a clear lowe low and rejected the .50 of the fib as well. if had broken the trendline and
made a stoplosshunt just above the fib level. with an expected strong OIL, we have the option that it will bring down the price of GBPCAD to the 1.66 level where strong support is waiting.
Trading Pathways Analysis of GBPCAD H4 Chart
The outlined white arrow pathway is the predicted pathway that the GBPCAD will follow in the coming days or weeks. Using my unique charting methods, I have been able to arrive at HIGH PROBABILITY turning points where GBPCAD will turn.
PLEASE NOTE THE ABOVE ANALYSIS IS FOR EDUCATIONAL PURPOSES ONLY. THEY ARE NOT DIRECT INSTRUCTIONS TO TRADE AND ANY LOSS INCURRED BY FOLLOWING THIS ANALYSIS IS AT YOUR OWN RISK.
Eiseprod of Trading Pathways
GBP/CAD LONG Anaylsis IMMEDIATEHello Traders!
Today we look at GBP/CAD. This is a pair I have been following for a while waiting for the opportune moment to enter into a long position. I noticed a few weeks ago a strong Bullish Pennant was forming and we have finally reached the point of convergence. That combined with Mcginley Dynamic (Best Moving average by far if you ask me) and my trend indicator give me a strong buy signal. I also use one other secret indicator for my confirmation that gave me the go-ahead as well. If you want to know that indicator ask in the comments!
This is for educational purposes so please trade at your own risk. Below are my exact entries for the trade if you do wish to follow something similar!
Entry:1.71269
Take Profit:1.77335
Stop Loss:1.70044
Pip Goal:606.6
R/R 1:4.95
Buy GBPCAD after the recent correctionWe have seen a decent correction in GBPCAD over the last few weeks. However, price action indicates that things might turn around very soon.
I believe a reversal is on the way for GBPCAD.
Technically, a) Price is finding support at the 100D EMA.
b) A descending wedge formation is taking place.
So, I will be looking to go long in the 1.6850-1.6950 zone with SL below 1.6780. If the trade goes into profit, we can Take Profit(TP) at 1.7080, 1.7200 and 1.7500.
GBPCAD roadmap on dailyNote : I see price bounce down after touching the daily key level, the downside target is at 1.68500
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX