Are We In Process of Forming Inverse Head and Shoulders?This looks to be in the process of forming an inverse head and shoulders pattern. So will trade with the move over time. I actually want it to go bullish, but we need a strong confirm for that to happen. So let's what happens. I also have to update my map. That's why you don't see the zones just yet.
BULL TPS:
• 1.69934
• 1.71040
• 1.71708
BEAR TPS:
These are based on where the arrows are.
• 1.71234
• 1.70286
These are below the weekly level
• 1.68816
• 1.67831
• 1.67196
Gbp-cad
GBPCAD ANALYSISGBPCAD respects downtrendline
Price is below key level at 1.6990
based below HVN at level 1.6942 which indicates that pair is in distribution
phase
Price broke lower edge of rising wedge pattern with strong bearish movement
Rejected from SMA 100
RSI rejected from downtrendline
It's expected for coming strong bearish wave (c) to target level 1.6638 which corresponds to 127 Fibonacci extension
GBPCAD | DAILY | LONGLooking for a drive to the upside on GBP, as there has been excessive selling pressure with strong buyers on the dip. Easier to take this trade in the European market for Liquidity
Big Picture View
Strong: None
Weak: CAD
This trade is invalid after 29/06/2020 @ 9 pm BST.
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🐉 HAPPY TRADING 🐉
GBP/CAD Waiting for the Breakout by ThinkingAntsOk🔸 4H CHART EXPLANATION:
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🔸 Price broke the Weekly Ascending Trendline.
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🔸 Now, it is making a corrective move on a pullback to the broken trendline.
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🔸 If this structure is broken, then there is potential for a downside move towards the Support Zone.
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🔸 Will look for a lower timeframe bearish setup if the structure is broken.
🔸 DAILY CHART ANALYSIS:
GBPCAD - SWING - 24. JUNE. 2020Welcome to our weekly trade setup ( GBPCAD )!
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1 HOUR
Bullish week closed above main sr level.
4 HOUR
Expecting another push to the upside.
DAILY
Overall bearish market about to turn, good long entries!
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FOREX SWING
BUY GBPCAD
ENTRY LEVEL @ 1.69160
SL @ 1.67710
TP @ 1.71270
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
GBPCAD ANALYSISGBPCAD broke neckline of inverted Head & Shoulders pattern at level 1.6919
Price broke corrective downtrendline
Above SMA 100
RSI rebounded from uptrenline
It's expected for the continuation of bullish momentum to target first key level at 1.7055
then finally target supply zone at level 1.7177 as a classic target from inverted Head & Shoulders pattern
GBPCAD: Flag Violation & Bearish Forecast
GBPCAD is trading in a bearish trend.
the price started to recover as it reached 1.676 support and it was steadily growing within a bearish flag formation.
today the flag was broken to the downside and the market has perfectly closed below its support on 1h.
retesting the broken flag, chances are high that the price will start falling.
initial target: 1.68
good luck!
GBP/CAD Bearish View by ThinkingAntsOk🔸 DAILY CHART EXPLANATION:
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🔸 Price bounced at the Ascending Trendline some weeks ago.
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🔸 However, we can see that the bounce was very week, and it has been broken to the downside.
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🔸 The target of the downside move is the Support Zone at 1.5900. Be careful with the middle support at 1.6600.
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🔸 Will look for lower timeframe bearish setup.
🔸4H CHART ANALYSIS:
GBPCAD will we get a bearish drop on the retest? This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
GBP/CAD at 50% retracement level.GBP/CAD at retracement level.
Following a large drawdown of 160 pips, the GBP/CAD is at the 0.5 Fibonacci retracement level. Previous false breakouts have occurred on the 4th June and 8th June - price action tends to repeat itself so this breakout below the trend channel is likely to be false too. The hourly stochastic is giving an oversold signal, along with the %K line crossing above the %D line, leaving a high probability buy trade. Place a buy stop at 1.708 to confirm the trend, scaling in a position may also be a good choice.
WATCHOUT: both the United Kingdom's and Canada's CPI inflation reports are released this week (Wednesday). Predictions show that disinflation may occur in the UK (0.5% down from 0.8%), potentially leading to more contractionary monetary policy by the BofE. Meanwhile, although rated low-level Canada is predicted to recover from its deflationary period potentially pushing the GBP/CAD down.
GBPCAD LONG - POUND BUYING MORE POUTINES1. RR is good
2. EMAs looking strong both on 4hrly and 1hrly
3. TDI is in the buy zone with RSI above trendline
4. Price action show bouncing on Structure
5. Hourly chart showing good price action as well
Good setup, depending on price action might leave it over the weekend.
GBPCAD ANALYSISGBPCAD is based above HVN at level 1.7040 which indicates that pair is in accumulation phase
MACD shows weakness in bearish momentum
RSI is above level 50
we r waiting price to exceed key level at 1.7140 to open long trade
It's expected to target first resistance level at 1.7280
then finally target supply zone at level 1.7700
GBPCAD CLOSE TO BREAKOUTHello, my fellow traders, hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into the analysis.
As we can see, the price is inside ascending triangle, possible breakout will be upside.
Let us know your views on this in the comment section. Thank you all.
There is good news for our followers. We will be analyzing on-demand. So, let us know which pair you want our analysis on and we will get it for you. Do like and follow us.
Ryan.R..Lopes