Sunday, June 4, 2017

[FOREX TIP] GBPCAD Price Action Analysis – 30th May 2017

Before you continue, we want to make sure you understand that this is a past trade idea found inside The Price Action Club which is a premium Price Action trade signal service. This post is 1 week delayed and this idea is no longer valid but the lesson is still valid. We post this to show you what is inside the Price Action Club. It would be awesome if you join us to learn and to trade our trade ideas. We hope to see you inside the Price Action Club soon. Click here to join us…

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GBPCAD has been very bearish on the H4 chart. The price has kept making lower lows. So far we have seen some massive H4 bearish candles. Some massive level of support got breached on the way of this bearish journey as well. Today’s price action suggests that the pair might go to an important level of resistance to complete the corrective wave. If things go as it normally does, technically then the pair might offer another sell entry. Let us have a look at the GBPCAD H4 chart…

GBPCAD Price Action Analysis – 30th May 2017

We see on the chart that the H4 candles have kept making lower lows. The price went down up to 1.71880. On its way, it made an important breakout at the level of 1.73530. Now what we have to wait for here is that the corrective wave goes up to 1.73530 and produces an H4 bearish reversal candle to offer us sell entry. Let us have a look at the summary of the trade…

  • Sell Limit Order: 1.73530
  • Stop Loss Level: 1.74500
  • Take Profit Target: 1.72000
  • Validity: 24 hours
  • Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

If you have been following our trade idea for sometime now, then you might remember that we recommended a trade on GBPCAD last week. The price acted exactly as we had predicted. The support level/zone, we thought that would play an important part that has become the potential resistance level/zone, which could drive the pair down again. This is what the financial markets do all the time. Support becomes resistance and resistance becomes support.

You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.

We hope that you enjoy our Free Forex Trading Signal today: GBPCAD Price Action Analysis – 30th May 2017

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[FOREX NEWS] USD/JPY leaning lower – Forecast June 5-9 2017

Dollar/yen dropped as the page turned into June, reflecting the dollar’s weakness. Here is an outlook for the key levels to watch on the pair with a note of key movers. This is a new format of the outlook and feedback is welcome. We cover the top fundamental news and outlook, a technical analysis on [...]

The post USD/JPY leaning lower – Forecast June 5-9 2017 appeared first on Forex Crunch.

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