GBP and CAD: Levels, Ranges, Targets

USD/CAD. Target at 1.3196 from 1.3140’s now done, price went to 1.3209. Where is 1.3209? Between today’s 1.3203 and 1.3242. See how the points and levels change dynamically from day to day. Now I’m short USD/CAD from exactly 1.3209. Target below is 1.3156 to 1.3163. Why 1.3163?  The point at 1.3163 if broken takes USD/CAD to far lower 1.3100’s. The bottom today for example is located at 1.3092 and 1.3082. As I write, I’m setting target right at 1.3163 ish. The game plan remains 50 pips per trade, 30 trades. And  1 lot each trade. Game plan is out by 10:00 am but we’ll see and I monitor continuously.

Down points for today, 1.3203, 1.3191, 1.3188, 1.3185, 1.3175 then 1.3163. Above 1.3242 and 1.3243, top for today is 1.3291 and why 1.3243 is vital, it holds USD/CAD from 1.3191. Kinda ironic today’s USD/CAD target was actual 1.3214. The target may have to fulfill before the reverse, price now at 1.3211.

GBP/CAD. Couldn’t resist the temptation to short last evening at 1.7409 with a target at 1.7356. Dead stop came at 1.7363 and 7 pips off from target but how about 4 pips off from the 50 pips. Now I’m running something like a 10 pip profit. As long as GBP/CAD remains under today’s 1.7411 and 1.7417 then shorts are good. Above 1.7417 then 1.7432 comes next and 1.7495. See 1.7432 holds GBP/CAD from upper decks at 1.7495.

The bottom in GBP/CAD today is 1.7316 and I believe 1.7356 is a support. The game plan is remain short for now with target at low 1.7360 and a monitor because if price breaks 1.7356 and 1.7360’s then hello 1.7316. Low 1.7300’s means long back to 1.7350’s and 1.7360’s for another 50 pips.

GBP/USD. I was prepared for GBP/USD today but GBP/CAD and USD/CAD took the focus. GBP/USD bottom hit today at 1.3160, actual was 1.3159. GBP/USD should be going long today. Below 1.3160 comes next massive supports at 1.3155, 1.3141, 1.3138, 1.3133 and 1.3111. 1.3133 holds GBP from big fall to 1.31111.

Shorts overall must remain below 1.3229. Above is nothing but headwinds at 1.3232, 1.3236, 1.3248 and top for today at 1.3296. See 1.3248 hold GBP from upper decks at 1.3291. Good short at 1.3248 if seen.

If the 1.3160 bottom breaks hurry long to vicinity of 1.3229.

These trades are monitored and are scoring under a full slate of statistics as I write. So I will maintain perfection and diversity of currency pairs. The first day with the new buttons under USD/CAD didn’t assist so I may add a few more trades to bring the numbers to my best perfection. If this venture works, anybody can come and join me and takes these trades daily.

By the way, thanks to all for views and comments. I’m not placing these trades “out there” but its written exclusively here for the trade methodologies.

Brian Twomey, Inside the Currency Market

 

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