What you should consider before trading GBPCADGBPCAD is going to test 200 SMA for selling or buying pressure. Currently, it's trading sideways and Pivot points form a major entry point. If the next Pivot point (available on 05/05) permits selling pressure, then the increased volatility to 1.7200 downward is guaranteed.
Gbpcadshort
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