2 years agoTrade Started..
2 years ago
GBPCAD 1Hour Signal Chart
Follow signal progress on the chart below.
The British Pound vs Canadian Dollar pair, Has surged higher during the Asian session early this morning. With the pair gaining nearly 16 pips, it continue’s to move up in a strong BEARISH trend as it did in the past days ( view Daily chart below ).
On the other hand, GBPCAD is holding well above the long term 200 days simple moving average (thats why we dont recommend any short trades on the GBPCAD for the coming days).
The 50 and the 20 days simple moving averages are also confirming continuation for the well established BEARISH trend. On the other hand. A BEARISH Flag Pattern is emerging on the 1H Chart. Which might resolve up in the direction of main – Trend on Daily Chart.
CONCLUSION: [We highly recommend to avoid trading GBPCAD for today Friday as we might be dealing with a choppy falling correction for rest of the day.] However As per above general BEARISH trend; Only Long trades to be considered following completion of any counter trend falling correction on the 60-minute chart.
🔻 Sell Signal Details
|Time||Fri 2017.09.15 05:24|
|1s TP @||1.62252|
|2nd TP @|
(Note: This conclusion is only valid as long as price is holding above the 200 periods simple moving average (red dotted line) on the 60-minute chart,
A Long signal is available now for review on the right )