GBPCAD ShortGBPCAD closed the weekly as a lovely pinbar, we are still long term bullish as with our previous analysis and this hasn't changed considering the monthly still closed bullish however we believe there will be a correction down before we see it close higher next month potentially. We are waiting for a correction up and a rejection off the level specified before taking trade.
R:R = 1:3:1
GL.
Gbpcadshort
GBPCAD: Hold or FallWill this pair hold the previous resistance or collapse through it?
The supply rejection was strong but we still need to cross back over the EQH's if we have a chance of falling lower.
I have illustrated what I would like to see, I will leave updates below.
Traders, if you have your own opinion about this idea, write in the comments section, I always reply.
RISK DISCLAIMER:
Trading Crypto, Futures, Forex, CFDs, and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use a tight stop loss.
--------------------------------------------------------------------------------------------------------
Please like, subscribe, and share this idea with others!
--------------------------------------------------------------------------------------------------------
GBPCAD a simple example..Don't forget to Click the follow button for daily professional analysis, also please feel free to ask any questions you have!
It is a great idea to keep it simple when trading.
This is a clear updated version of our chart after targets were hit. We are now short.
This is because after an upmove... Comes a downmove.
Is that so hard to believe? Trade it accordingly!
GBPCAD Ascending Channel
I am liking this Ascending Channel I expect it to make its way toward support, Could break below and go to 2nd major support, Which would also be the bottom of the Channel.
The RSI is also signaling BEARISH DIVERGENCE. So we will keep an eye on that.
I am reposting a rough chart I posted earlier because it was blocked for the reason of breaking the rules of this website.
I put a link to my discord, which is not allowed.
So here is a picture of the orignal analysis. This one I just reposted is cleaner anyway. Lol
DONT MAKE A TRADE JUST BECAUSE A STRANGER ON THE INTERNET HAS A COMPELLING ANALYSIS> Make sure you do your own analysis
The picture below is my original analysis. :)
GBPCAD SHORTS RISKY 📉📉📉Expect the bearish price action from this area, i call this a risky entry because we go against HTF market structure. Price took out buy side liquidity above equal highs and above weekly highs, market makers as theory says should exit or execute their position and now price should colapse. MID-LONG TERM perspective i will look only for buys there.
What do you think ? Comment below..