And again, GBP crosses offer the best opportunities today + Signal

Hope everything is going well traders…

It’s not that I focus only on the GBP crosses… Everyday I try to come up with the currency pairs with the clearest conditions and the ones with the best profit potential…

If I do the same thing every single day, I know that the odds will me on my favor… so it doesn’t matter if I lose one or two trades, sooner or later it will pay off.

Right now my main focus are the GBP crosses, but some times, I focus on other crosses, the JPY, or the CHF, and so on and so forth.

You know what I mean?

I try to avoid trading any pair for the sake of trading it, I really try to understand what the market is doing on both, long term and short term charts.

Only when I fully understand what it is doing, I know what it is likely to do in the following hours/days, and there is where I try to find my entry.

And that’s it trader! That’s what I do every single day…

Does it make sense?

Here is what I think is one of the best trade opportunities for today/tomorrow.

GBPCAD Analysis

Here is the long term chart

GBPCAD Daily

Just broke through an important LT support level, which means that it is likely to continue its way down, at least until it reaches the next LT support level at 1.6202.

Now, here is the short term chart (15 minutes).

GBPCAD 15 Minutes

There are two possible trades:

Retracement trade: If it retraces back to the ST resistance leve, and gives us a pattern with downward pressure, we can take a short trade.

Breakout trade: Wait for the GBPCAD to break through the bottom of the range (set and forget trade). Entry at 1.6585, SL at 1.6637 and open target.

Let me know what you think.

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .

  • cassyd

    Looks good. I’ve taken it, sell stop, we’ll see how it plays out. all the best. great analysis