Hi Traders! GBPCAD Intraday buy idea update and follow up is here. On April 28th I shared this “GBPCAD Intraday Buy Idea From Strong Support Zone” post in trading view. In this post, let’s do a recap of this setup and see how it has developed now. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club. Spoiler alert – free memberships are available!
My Idea
Based on the above mentioned analysis my view was bullish here and until the strong support zone holds I was expecting the price to move higher further. The price action didn’t follow my analysis here and this idea failed. The price which was moving lower reached the strong support zone but the price didn’t hold in this zone as we expected it to. The price then moved lower further and we got a valid breakout below the strong support zone thus invalidating the bullish view here. My current view on this pair is neutral.
Note: You can watch my webinar on how to cut losses early here
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This is how the report looks like. A table with the hottest market opportunities, screenshot behind every pair and time frame (anything that is in blue inside the table is clickable and leads to a screenshot) + a summary in text format, kind of highlights. And of course, Live Market Analysis every single day.
If you have any further questions, don’t hesitate to drop a comment below!
To your success,
Vladimir Ribakov
Certified Financial Technician
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