GBPCAD Selling Opportunity..Multiple scenarios been illustrated above.
CAD totally dependent on OIL.
As OIL been bullish mostly due to fundamental reasons (US & Saudia Contract), CAD made serious
moves too.GBP on the other hand been consolidated last week but made moves at the end of week.
Here GC been trapped in symmetrical Triangle and at Resistance level. It has broken previous support
and retested as well. SHORT once market opens will viable confirmation.
Check your R:R for safe profit.
Lemme know in a comment below about your idea too. :)
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Gbpcadforecast
GBPCAD potential bounce!
GBPCAD expected to reverse up to 1st support at 1.76955 where it could potentially react and bounce to its resistance at 1st resistance at 1.71436.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
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