GBPCAD produced a massive H4 candle at the level of 1.62800. Then, the price has been going towards the North. As things stand with GBPCAD, the price is going to head towards upwards if we get a breakout at 1.65147. Let us have a look at the H4 chart to take the long entry.
GBPCAD Free Forex Trading Signals – 9th Feb 2017
As we can see on the chart, that the massive H4 candle and one after that set the bullish tone on the pair. The price went up to 1.65147 and found its resistance. We have had some corrective H4 candles. The price has not found a support yet, but the level of 1.64348 has produced a doji H4 candle. If the level can produce an Engulfing H4 candle, then we should wait for an H1 breakout at 1.65147 to take long entry. An hourly break would make the price go up to 1.66600.
Let us have a look at the summary of the trade…
- Buy Stop Order: $1.65147
- Stop loss Level: $1.64340
- Take Profit Target: $1.66600
If you are a follower of our free signal posts, then you might have noticed that our yesterday’s signal got triggered and nicely went up to the level that I recommended. Although, I assumed that the signal would have come earlier than it did. Nevertheless, it came and worked nicely for us. This is the beauty of following H4 chart in the Forex market. Other charts such as H1, 15M, 5M would not work like that. This is why it is important that we learn the art of trading on the H4 and D1 chart. We need to be patient and let the price go up to the level that our trade setup suggests.
Comment below if you have questions on this trade and please let us know if you made money if this trade signal. Good luck!
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 Free Forex Trading Signals – 9th Feb 2017
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