Hey guys what is up, so gcad may be preparing to turn and go back up, I am closely monitoring it today as I do believe it is due for not just a big pullback or correction but I also feel like that most recent low (support) needs to be validated Let me explain why I think so - If everytime a trader buys support that support is broken..don't you think eventually...
We are in a decent sized range on the hourly, a break of resistance along with the formation of support on lower timeframes can lead to price reaching the next resistance, it would be moving through a 35 pip clean range. However if we break support, we have a 30 pip range to fall through before tapping into the next support, however resistance needs to form first....
GBP/CAD from what I can see is looking to fall to the 50% line on my Fibonacci retracement. Im going to set a sell stop @1.72500, and I also set 3 take profits. What do you guys think will happen next with GCAD? Leave comments below and share your thought!
Based on my daily chart, GC has been trending long since oct. GC is approaching respected Daily resistance last established in May, at the 1.77180 price range. Iam expecting a trend reversal at resistance...If price breaks resistant, it will have to have some serious momentum...There is also a respected Daily down trend respected a few times in the past. I will...
GBPCAD Setup: A very obvious HNS pattern indicate reversal in bullish trend. Confluence: BRN Price Action Structure Supply zone Structure Breakout Entry Confirmation: Wait for CRS then sell Entry: Sell@ 1.6900, SL @ 1.7110 (210 pips), TP @ 1.6600 (300 pips) Reason I say do not take this trade because the SL is 210 pips, which is too huge for me to...
GBPCAD Price currently in correction mode, if the correction ends at this level, then price will fall. Confluence: Bearish Flag BRN Note: Invalid if price break structure Entry Confirmation Wait for valid bearish CRS then entry Entry: Sell @ 1.6720, SL @ 1.6820 (100 pips), TP @ 1.6300 (420 pips)
GBPCAD Setup: Simple Structure Breakout & Retest Entry: Sell @ 1.6550 SL @ 1.6585 TP @ 1.6450 TAYOR
SELL AFTER THE CLOSE OF THE 0.12 FIB. SECURE PARTIALS ON THE WAY WHEN UP 10-15 PIPS
Trade the Bounces