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Gbp-cad

GBPCAD rejected by a monthly resistance 🦐GBPCAd is moving onside a minor ascending channel. The market after the 2nd attempt to break lost strength and will look for a minor retracement. If the market will break below, according to Plancton's strategy, we can set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
6
GBPCAD a bullish momentum? 🦐GBPCAD on the 240 min chart after the last impulse retraced back until the 1.73900 structure. The price from there started a new impulse to the upside and now is consolidating below a monthly structure. IF the market will break above, according to Plancton's strategy, we will set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
14
Mean-reversion - OVERBOUGHT - SHORT Greetings folks, Price has pierced through the standard setting bollinger band and my mean-reversion system has indicated a setup. Unfortunately, price has about reached the mean as of posting this trade idea. The trading system with a preset 2:1 profit to risk ratio for this asset has historically: 101 trades 19 %/R returns 40% winrate Do let me know if I should expand the assets and timeframe of ideas that I share. Cheers, PineConnector
Short
by PineConnector
GBPCAD LONGMonday. My favourite day of the week, purely because the markets are waking up. So we entered a long position on GBPCAD this morning. We are currently -2 percent but we are comfortably waiting for price to retest our strong resistance zone and eventually continue in a bullish momentum into our take profit area. Our analysis has been created on a 1hr time frame for trading view but was originally added to our watchlist on a daily time frame. Both which were convincing that price was going to have a bullish momentum. my entry was: ENTRY @ 1.76032 SL @ 1.75432 TP1 @ 1.76632 TP2 @ 1.77332
by Forexinsightsuk
GBPCADGBPCAD SHORT Confirmation list 1- While price was consolidating confermed a very strong support. 2-The price broke the support area without retesting , retesting is happening now so i expect everyone to sell gbpcad below the previous support. 3-I feel so confident that everyone's sl is gonna be above this area so i expect the marketto take everyone out, retest the poi candle and 88.60 fib and then reverse. 4-IMB to be filled 5- This is just my vision scenario and im gonna enter only if i see the right price action on smaller timeframe.
Short
by Crifx
GBPCAD bounces over the 0.618 🦐GBPCAD on the 240 min chart after the last impulse retraced back until the 0.618 Fibonacci level. The price from there started a new impulse to the upside and now is consolidating below a monthly structure. IF the market will break above, according to Plancton's strategy, we will set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
10
GBPCAD Looks Good After a Lower OpenAfter opening lower than Friday's close GBPCAD has made a nice run back up to the bottom of its 2 day range. Now that those lows have been swept, I expect that there is opportunity for the pair to go on a nice run. From a fundamental aspect, The Pound has taken a breather after a rather dominant 2020 however, paired against the Canadian dollar I expect for it's strength to continue with new Oil regulations specifically coming into the US, impacting the broader North American Economy. Theses regulations will likely continue cause disruptions in the economy worldwide in the next few months, however based on the fact that Canada will receive direct impact, they are a lot more susceptible to weaker currency comparative to that of Britain whose primary oil provider is Norway.
Long
by crawfordpaul
Beyond fundamental analysis I’d like to share some informative knowledge about the importance of following currency strength and sentiment. I am forecasting this long continuation for EURCHF based off knowing major currency strength and sentiment. I forecast EUR to be third for currency strength and sentiment among major currencies to open the market. I can summarize this by observing CAD being the strongest currency as all major currencies against CAD are selling off (including JPY pairs which is second as EUR is correcting to sell off against JPY) I know CHF is weak as EUR broke key resistance against CHF into a buy off. CHF buyers pumped its pairs to higher resistance followed by huge pivots across the board (most noticeably CHFJPY). Furthermore I am forecasting USD being weaker than EUR as we saw USDCHF dump to end the weak. Now we have accurate placements for strongest To weakest for half the major pairs CAD, JPY, EUR, CHF, USD to start. Now I take a look at GBP and see it is selling off against CHF while EURGBP pivoted off a major support. Furthermore GBP is in a clear sell off against CAD, JPY and USD. Now our strength and sentiment placement is CAD, JPY, EUR, CHF, USD, GBP. Our remains major currencies AUD and NZD are the weakest in strength and sentiment. Both currencies are selling off against all major currencies however AUDNZD is looming at a key support. A pivot and continuation will dub NZD the weakest. A breach through support will dub AUD the weakest. GBP is also in a volatile state against both currencies leaving the possibility of GBP being the weakest pending the trend play outs. This is super detailed so please ask questions and comment. I feel like this is a great fundamental strategy for all to learn. Thank you.
by Pika7993
2
📚 Learn More 💰 Earn More with us: Range-Bound Market📚 LEARN MORE 💰 EARN MORE With ForecastCity What is a Range-Bound Market? A range-bound market is one in which price bounces between a specific high price and a low price. The high price acts as a major resistance level in which price can’t seem to breakthrough. Likewise, the low price acts as a major support level in which price can’t seem to break as well. The market movement could be classified as horizontal, ranging , or sideways. A range-bound market is the opposite of a trending market. In a range-bound market, there is no clear direction. How to trade Range-Bound Market? 1- Trading Major Support and Resistance: Traders capitalize on range-bound trading by repeatedly buying at the major support level and selling at the major resistance level until the security breaks out from a price channel. The idea is that the price is more likely to rebound from these levels than break through them, which puts the risk-to-reward ratio in their favor, although it's important to always watch for a potential breakout . Technical indicators, such as the relative strength index (RSI), can be used to confirm overbought and oversold conditions when price oscillates within a trading range. For example , a trader could enter a long position when the price is trading at major support and the RSI gives an oversold reading below 30. Alternatively, the trader may decide to open a short position when the RSI moves into overbought territory above 70. Most traders place stop-loss points just below the major support level and above the major resistance level to mitigate the risk of heavy losses from a high volume breakout. 2- Trading Breakouts: Traders can enter in the direction of a breakout from a trading range. To confirm the move is valid, traders should use other indicators, such as volume and price action . For instance, there should be a significant increase in volume on the initial breakout , as well as several closes outside the trading range. Instead of chasing the price, traders may want to wait for a retracement before entering a trade. For example , a buy limit order could be placed just above the top of the trading range, which now acts as a support level. A stop-loss order could sit at the opposite side of the trading range to protect against a failed breakout. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Education
by ForecastCity_World
5