GBPCAD Long Pullback TradeGBPCAD Long Pullback Trade
We rejected our HTF pullback zone and then returned above. Multiple confirmations on H4 - price rejected area between 50 and 100 MA, long-term support rejection, previous day low rejected.
Stop Loss below the recent low: 1.78851
Take Profit: 1.79819
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 later H1
- Close the loser before hitting full SL if the retracement extends and the price does not confirm the anticipated reversal.
- Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1 or if momentum weakens indicated by MACD oscillator, consider closing the remaining position early to lock in profits.
*No important news for GBPCAD today*
CADGBP trade ideas
Long GBPCADHere there are multiple confluence for this trade.
Fundamental factors:
Market sold off aggressively due to the IRAN missle attacks. When situation like this happens market tends to overshoot. So trying to get the retracement.
Techincal Factors:
It created a multi day double bottom patern.
RSI is also created a bullish divergence which shows that price might make a reversal.
Trade Management:
Although in the chart I am aiming for 2R. I will close half the position in 1R and close the rest on TP level which is set at the top of the potential daily range based on the ADR.
SELL GBPCAD - trade explained in detailTrader Tom, a technical analyst with over 15 years’ experience, explains his trade idea using price action and a top down approach. This is one of many trades so if you would like to see more then please follow us and hit the boost button.
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GBPCAD is in the bearish directionHello Traders
In This Chart nzdcad HOURLY Forex Forecast By FOREX PLANET
today GBPCAD analysis 👆
🟢This Chart includes_ (GBPCAD market update)
🟢What is The Next Opportunity on GBPCAD Market
🟢how to Enter to the Valid Entry With Assurance Profit
This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Chart
GBPCAD - Short TradeOn Tuesday (beginning of the new week) price swept the previous week high (PWH) with a great sign of weakness: a market structure break (MSB).
As a target, I prefer the opposite liquidity level
I'm excited to see your opinion in the comments, and I'd like it if you could boost this idea if it was helpful for you!
Keep it simple and consistent! =)