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GBP/CAD Megatrend Pattern Still in Play

By:
Nenad Kerkez
Updated: May 31, 2022, 12:14 UTC

The GBP/CAD is in Megatrend formation.

GBP FX Empire

In this article:

GBP/CAD Technical Analysis

  • Megatrend formation
  • Trend is bearish
  • Profits are protected
  • Extension below 1.5922

MEGATREND MAs: Bearish

D1 Chart GBP/CAD

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  1. Dark cloud cover variant 2
  2. Swing low
  3. Shooting star
  4. Final target if 1.5922 breaks
  5. Megatrend

The GBP/CAD is in Megatrend formation. All short entries starting from March would have been in profits. At this point we scaled out of profits protecting the remainder at BE+1. The pinbar entry which is learned on Megatrend trading course was the trigger. Look at the chart for a specific zone for the target price. Targets are 1.5922 and 1.5575.

Cheers and safe trading,

Nenad

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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