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GBPCAD Price Action Analysis – 14th June 2017 

GBPCAD has been bearish on the H4 and H1 chart. The pair has kept making lower lows for 4 days. Today’s price action so far suggests that the pair might head towards the South again to make new lower lows. Let us have a look at the chart to find out the equations to ride on that potential bearish ride…

This is the H1-GBPCAD chart, which states that the pair has been down trending with a good amount of selling pressure. The price came up to 1.67900 to find its support. It did and had some corrections. However, on the H1 chart, we see that a little Double top has been formed at 1.68850. This level is today’s lower low so far, as well. The price now is heading towards the South to the previous low. If it makes an H1 breakout at 1.67900, then selling the pair would get some green pips for the sellers with excellent risk and reward ratio. Let us have a look at the summary of the trade…

• Sell Stop Order: 1.67900
• Stop Loss Level: 1.68900
• Take Profit Target: 1.66300
• Validity: 72 hours
• Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

Choosing the right time frame in the Forex trading is an important and sometimes a difficult task for the traders. In fact, integration of multi time frames is needed. Here we have integrated H1 chart with H4 chart. H4 chart has been used to identify the trend and the H1 chart is going to be used to take the entry. Over here H1 chart is called the Trigger chart.

We hope that you enjoy our Free Forex Trading Signal today: GBPCAD Price Action Analysis – 14th June 2017 

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