Gbpcadsell
GBPCAD - SWING - 04. MAY. 2020Welcome to our weekly trade setup ( GBPCAD )!
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1 HOUR
Very bullish price action taking out several highs.
4 HOUR
Overall sideways waving market structure, expecting a break to the downside.
DAILY
Price action slowed down at range high, good short entries!
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FOREX SWING
SELL GBPCAD
ENTRY LEVEL @ 1.75330
SL @ 1.76810
TP @ 1.73110
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
GBPCAD approaching resistance, look out for potential reversal!
GBPCAD is approaching its resistance at 1.76955 where it is could reverse down to its support 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 ShortWe look for the drop.
We have a point of interest on 30M TF.
We build up liquidity, so we either run from now down, or spike up, clear liquidity above and then run down.
This will melt beautifully once oil start pushing up.
Taking a risky entry right now, and looking how the price action will react.
GBPCAD - Descending Triangle Testing Key Support | Sell | 1:3 RR📢GBPCAD 1H - Technical Breakdown
📈Price action around the current market price is testing the descending triangle key support floor at 1.74930. This is the 4th or 5th time this level has been tested. If this level is broken to the downside bearish momentum will undoubtedly ensue.
📈A short opportunity from the current market price presents a 1:3 RR trade aiming to bank 150 pips down to the current range low at 1.73340 highlighted with a green horizontal ray.
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. :)
#STAYSAFE#STAYHOME
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.