GBPCAD Potential Long Opportunity Dec 6th

Forex charts and rates provided by TradingView

PAIR: GBPCAD

CHART TIMEFRAME: H4

TREND ON THE CHART TIMEFRAME:  BEARISH

FACTS AND PATTERNS: Bullish White Swan Pattern

POSSIBLE “PREDICTED” PRICE ACTION: 1.169160 is the Fibonacci 61.80% of the initial bullish action. Possible to test 1.169160 and BREAK BELOW.

ACCURACY: 82%

GBPCAD TRADE IDEA: ( MID TERM )

TRADE: LONG

AREA OF ENTRY: 1.69000 – 1.68800

STOP LOSS: 1.68000

TAKE PROFIT 1: 1.169800

TAKE PROFIT 2: 1.70500

WHAT TO PAY ATTENTION: If the price reaches to area of entry, wait for the H4 closing above 1.68600 to enter the trade

UPDATE: Hits TP2 with 150 pips.Trade Closed. We will look for a reversal.

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Warning: All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases.

If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.

WARNING ABOUT TRADE IDEAS

  1. We enter trades on different pairs and we look for other trade opportunities. So we recommend you to enter trades with the smaller size.
  2. Do not exceed 10% margin.
  3. Stop Loss and Take Profit Levels are +/- 15 pips minimum.
  4. If we do not publish an update close the 40% of your position on the TP1 level and move your stop loss to entry level.
  5. Some trades ( especially with 300-500 pips profit target) can take 5-6 days to hit the targets. If you do not have patience, do not enter the trade.
  6. Our aim is to close each with week 2500-3000 pips profit minimum.
  7. If we mention as “pullbacks are buying/selling “ opportunities and we publish pullback levels, you do not need to wait for a signal from us. Use these opportunities at the mentioned levels.
  8. All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases. If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly
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