GBPCAD approaching support, potential for a further rise!
GBPCAD approaching support at 1.70945 where it could potentially rise further to 1.73180.
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Gbpcadlong
#GBPCAD, Before a serious rise?We had an invalid double top pattern here and the pound returned very quickly to the resistance line and again made a small downward trajectory that didn't hold up either.
Upward trend.
Because we did not break the resistance at 1.7020 Buying now will be dangerous but bold, for those who want a confirmed technical template that will wait for the breaking of the above resistance
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GBPCAD - FOREX - 07. NOVE. 2019Welcome to our weekly trade setup ( GBPCAD )!
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1 HOUR
Bearish pressure and short term price action.
4 HOUR
Sideways moving market structure with several pullbacks.
DAILY
Overall bullish market conditions, filling long positions with good risk reward!
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FOREX SETUP
BUY GBPCAD
1ST ENTRY @ 1.68600
2ND ENTRY @ 1.68010 (wait for trigger)
SL @ 1.66960
TP @ 1.70390
RR: 1.1 / 2.35
Use 0.5% risk per Entry!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN