GBP/CAD Long
Aktualisiert
Context:
• Prev. month close above consolidation, this month broke prev. month high
• Weekly: Bullish FVGs, prev. week had negative close, this week broke the prev. weeks high significantly
• Daily: In bullish swing, left consolidation with close abote montly high and consolidation range. Yet showed a rejection (long wick)
Idea:
• Direction: Long
• Entry area: 1.7452 - 1.7527 (between montly high and low of the 1h-Demand zone showed in blue)
Trigger:
• I do not suggest a LMT on the upper entry area
• Rather look for 30min-1h Reversal setup in mentioned entry area
• After reaching entry area one wants to see fast upward movement and a close abote prev. month high / prev. day low lines
Stop:
• Below your entry setup
Caution when:
• Entry area is approached with momentum, i.e. strong 1h-4h FVGs. → Slow approach of area preferred
Scenario broken when:
• Prev. day high is taken out: New context with potentially higher yet to build entry level
• Confirmed 4h close below prev. day low
Be aware of the CAD News today: BoC Interest Rate Decision. Market could become very volatile
• Prev. month close above consolidation, this month broke prev. month high
• Weekly: Bullish FVGs, prev. week had negative close, this week broke the prev. weeks high significantly
• Daily: In bullish swing, left consolidation with close abote montly high and consolidation range. Yet showed a rejection (long wick)
Idea:
• Direction: Long
• Entry area: 1.7452 - 1.7527 (between montly high and low of the 1h-Demand zone showed in blue)
Trigger:
• I do not suggest a LMT on the upper entry area
• Rather look for 30min-1h Reversal setup in mentioned entry area
• After reaching entry area one wants to see fast upward movement and a close abote prev. month high / prev. day low lines
Stop:
• Below your entry setup
Caution when:
• Entry area is approached with momentum, i.e. strong 1h-4h FVGs. → Slow approach of area preferred
Scenario broken when:
• Prev. day high is taken out: New context with potentially higher yet to build entry level
• Confirmed 4h close below prev. day low
Be aware of the CAD News today: BoC Interest Rate Decision. Market could become very volatile
Trade geschlossen: Ziel wurde erreicht
Unfortunatelly, market rallied higher without coming back to the entry area. Might give new opportunities, though
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