Thread: Gbp/Cad
Same.
Scaling in from 1.7070 (with tight SL). Looking to cover some underwater trades circa 1.6750 @ 1.689 and reevaluate entries from there. Friday's shakeout didn't shake me out, but I'm a lot less focused on 1.645.
edit: 1.7060 SO @ BE. in again 1.70425
edit: SO -12, closed 1.707 +14. look of reentry in asian session
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Asif777 (2019-01-29), Tanveer333 (2019-01-29)
GC in context of Andrews pitchfork. I anticipate middle fork as a target.1.68 seems right
both same daily chart.
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Wow, did CAD ever get beat up today....
Big sell off on all commodity dollars?
Good (great) CBI industrial order expectations print for GBP? -- 100 pips on USD... 150 CAD
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Hanif484 (2019-01-29), Tanveer333 (2019-01-29)
Hello brother. Well done.
Yes I am still in and targeting 50% fib. I always divide my trades into two parts. Some position are for swing with partial closing as it moves towards my targets, and the rest for the short term.
The 16450 zone has become a strong support level (in my opinion) and it's perfect for building for longs a gain. You may use the weekly 200 EMA as your stop lose point (just below 16400).
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Asif777 (2019-01-29), Tanveer333 (2019-01-29)
Sorry for being late.
Usually, when a fib level holds strong and is not breached or broken easily, the pair gains a stronger momentum to breach the following level faster.
I have two scenarios for the fib level as demonstrated on the charts below.
In scenario 1:
23% at 16890 and
38% at 18166 and
50% at 19196
In scenario 2:
23% at 17298 and
38% at 18826 and
50% at 20062
However, I think scenario 1 is more accurate.
If 23% level is breached, I think it is going to touch 50%
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Nice position.
What do you have for the 23.6? I get 1.68578. I'm having a tough time plotting S/R levels above !.63 -- this thing has been range bound for so long. Use another pair to benchmark? G/U ~ U/C?
I'm short biased myself. watching 1.67
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Hanif484 (2019-01-29), Tanveer333 (2019-01-29)
Testing to post ...
attached : gbp/cad 4h & Daily.
Maintain positions. (Closed previous positions). Securing +729 pips atm.
If that major support holds, I will change my views. Long's objective might be 1.64 coz 2 days later UK's trade balance with EU and non-EU are projected to favour GBP (forecast : slight increase).
While 3 days later , one of UK's major impact data is also expected to favour GBP.
The rest are technicals confluences which I could see, atm.
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Asif777 (2019-01-29), Tanveer333 (2019-01-29)
Anyone here actively trading this?
I've been range trading it for a while and it has been working really well. Just need to make sure you money management is really controlled.
Anyways I'm finding it difficult to come across fundamental analysis in relation to the pair. Do you guys just combine the fundamentals for GBPUSD and USDCAD? I just want to be able to assess the risk that it breaks the year long range it's been trading in.
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SELL 0.100M GBP/CAD @ 1.56405, SL 1.57700 (130 pips), TP 1.53200 (321 pips) ABCD short pattern on 4h chart, downward channel on daily
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Hanif484 (2019-01-29), Tanveer333 (2019-01-29)
Perfect in a way...if you would still hold it would be nice....
sometimes is hard not to get in the trade, right...and then you see 300 pips roadtrip...and pending order up there!
Still nice levels to short it...but to get 50 pips...its okay
ouh, today im closing my positions on every pair....today is gonna be a crazy market...wanna be in the market on soft notes....just to see what players will do...rocknroll baby!
spiking & spanking
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Asif777 (2019-01-29), Tanveer333 (2019-01-29)
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