GBPCAD forex trading. Strong buy opportunity on H4 timeframe
30 Jan 2023
GBPCAD Forex cross-pair has recently reached two strong H4 demand levels. The British Pound versus the Canadian Dollar (GBPCAD) has a strong bullish bias, similar to most British Pound Forex cross pairs since GBPUSD broke historical all-time lows last 2022. A huge bullish reversal is taking place in more GBP cross pairs.
See below the GBPCAD Forex cross pair H4 supply, and technical demand analysis shared in Set and Forget’s online trading academy. This trade was shared last Thursday, 26th January 2023. These imbalances have been posted before the price reached these imbalances, and both are playing out nicely for now. This is the type of analysis and Forex trade ideas shared in the trading community and from which you will take advantage.
Below is the updated GBPCAD Forex supply and demand technical analysis for the trade posted in the online trading academy, posted on the 30th of January, 2023.
There was another H4 demand level shared recently for GBPCAD. See below the previous Forex trade ideas shared last Tuesday, 24th January 2023. Both trade ideas have played out really well.
GBPCAD Forex Trading. Supply and demand trading strategy
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why do you see positive earnings, the underlying Forex cross-pair drops like a rock, or a negative earnings announcement and the cross-pair rallies like a rocket out of control? You are probably missing the fact that there are big imbalances in gaining control.
Unless you are doing very short-term trading and scalping, you should not worry about fundamentals or earnings announcements on GBPCAD Forex cross-pair.
You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.
Learn to trade Forex using our supply and demand trading course.
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