On the 4hr chart the GBPCAD established a low in the 1.59600 zone.
Price moved from this area to make a high in the 1.66800 zone.
Since 20 September 2019 price dropped over 360pips from the 1.66800 zone,
just to meet support in a zone which was formed on 23 August 2019.
All of the above now provides a good landscape to consider long entries on the #GBPCAD.
OUTLOOK AS FOLLOWS:
FUNDAMENTAL: #Brexit seems to be in the process of feeding through potential positive news after the PM suffered yet another legislative defeat.
PRICE: #GBPCAD price is now poised to move from the 1.63900 zone to the 1.67000 zone, that is over 310 potential pips! as a minimum....
TECHNICAL: #Ichimoku Tenkan and Kijun - sen crossed to the north on the 15 minute time frame.
ENTRY: In the 1.63600 – 1.63300 area
STOP LOSS: 30-50 pips
RISK: 1-1.5% of equity
EXIT: 1.6680 or apply trailing stop of 50 pips
Remember, anything can happen, and it usually does.
Price moved from this area to make a high in the 1.66800 zone.
Since 20 September 2019 price dropped over 360pips from the 1.66800 zone,
just to meet support in a zone which was formed on 23 August 2019.
All of the above now provides a good landscape to consider long entries on the #GBPCAD.
OUTLOOK AS FOLLOWS:
FUNDAMENTAL: #Brexit seems to be in the process of feeding through potential positive news after the PM suffered yet another legislative defeat.
PRICE: #GBPCAD price is now poised to move from the 1.63900 zone to the 1.67000 zone, that is over 310 potential pips! as a minimum....
TECHNICAL: #Ichimoku Tenkan and Kijun - sen crossed to the north on the 15 minute time frame.
ENTRY: In the 1.63600 – 1.63300 area
STOP LOSS: 30-50 pips
RISK: 1-1.5% of equity
EXIT: 1.6680 or apply trailing stop of 50 pips
Remember, anything can happen, and it usually does.
Trade fermée: ordre d’arrêt atteint
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.