Hello Traders,
I have bullish biased on GBPCAD for next week for the reasons i have explained below. On January 21, 2019 market made demand zone (highlighted in chart as demand zone). After long up trend market remained in period of consolidation and then started down-trend. market made supply zone on january 29,30 2019 and continued down trend. market gave no respect to demand zone on february 1, 2019 and it crossed demand zone downside but little pull up occurred so we could have snatched 70 pips if our risk to reward ration could have been 1. market made new supply zone on february 4,5, 2019. on february 5, 2019 market started moving up and gave no respect to supply zone, crossed the demand zone with huge bullish candle, remained in period of consolidation on february 7,8, 2019. market fell down little bit and then rejected by demand zone.
Trade Set up.
Bullish
Follow me for exact entries.
I have bullish biased on GBPCAD for next week for the reasons i have explained below. On January 21, 2019 market made demand zone (highlighted in chart as demand zone). After long up trend market remained in period of consolidation and then started down-trend. market made supply zone on january 29,30 2019 and continued down trend. market gave no respect to demand zone on february 1, 2019 and it crossed demand zone downside but little pull up occurred so we could have snatched 70 pips if our risk to reward ration could have been 1. market made new supply zone on february 4,5, 2019. on february 5, 2019 market started moving up and gave no respect to supply zone, crossed the demand zone with huge bullish candle, remained in period of consolidation on february 7,8, 2019. market fell down little bit and then rejected by demand zone.
Trade Set up.
Bullish
Follow me for exact entries.