โจ"GBPCAD Forex Analysis - Short-Term Outlook"๐
Let's delve into the GBP/CAD currency pair as we approach the end of the night. ๐
On the four-hour timeframe, after a robust uptrend and a test of the daily resistance line at 1.73398, we experienced a rejection, signaling a corrective phase. ๐
Moreover, within this timeframe, we observe a four-hour trend that broke down after the correction. Upon the activation of the 4-hour trigger at 1.72211, confirmation would enable us to consider initiating a short position. โ ๏ธ
The potential targets for this trend could be around 1.71316. However, my strategy doesn't necessarily require specific target levels but rather focuses on risk management and potential rewards. ๐ฏ
As for long positions, it's advisable to wait for further developments, possibly beyond the line at 1.72597, before considering entry. ๐
Keep an eye on the forex market news throughout the week. I recommend daily monitoring for any updates. ๐๐
Stay vigilant and remember, trade wisely!๐ก
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.๐ผ
On the four-hour timeframe, after a robust uptrend and a test of the daily resistance line at 1.73398, we experienced a rejection, signaling a corrective phase. ๐
Moreover, within this timeframe, we observe a four-hour trend that broke down after the correction. Upon the activation of the 4-hour trigger at 1.72211, confirmation would enable us to consider initiating a short position. โ ๏ธ
The potential targets for this trend could be around 1.71316. However, my strategy doesn't necessarily require specific target levels but rather focuses on risk management and potential rewards. ๐ฏ
As for long positions, it's advisable to wait for further developments, possibly beyond the line at 1.72597, before considering entry. ๐
Keep an eye on the forex market news throughout the week. I recommend daily monitoring for any updates. ๐๐
Stay vigilant and remember, trade wisely!๐ก
Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.๐ผ
