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GBPCAD

GBPCAD Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in these analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
Short
by ShahedZare
GBPCAD The Target Is UP! BUY! My dear subscribers, My technical analysis for GBPCAD is below: The price is coiling around a solid key level - 1.6993. Bias - Bullish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 1.7100 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
1
GBPCAD September 9th, 2023In technical analysis, a "rising wedge" is a pattern that forms when the upper and lower trendlines converge, creating a wedge shape. This pattern typically signifies a potential reversal in the price movement. To identify a rising wedge, look for a minimum of 5 touchpoints on the trendlines. In the example chart of GBPCAD on the daily timeframe, you can see that there are 7 touchpoints (3 on the upper trendline and 4 on the lower trendline). When analyzing the rising wedge pattern, it's essential to pay attention to trading volume. In this particular case, we observe a situation where the price is showing an upward movement while the volume indicator displays a decrease in trading volume. This discrepancy between price and volume can provide valuable insights into market sentiment. The decreasing trading volume suggests a diminishing interest among market participants. Traders may perceive the GBPCAD price as relatively expensive or overvalued, which leads to reduced trading activity. This can be seen as a sign of market indecision or potential exhaustion of the current trend. In technical analysis, this divergence between price and volume can act as a cautionary signal, indicating that the prevailing trend may be losing momentum. It adds an extra layer of analysis to our interpretation of the rising wedge pattern and the potential breakout to the downside. Therefore, when considering trading decisions, it's crucial to take both price action and volume into account to make a more informed choice. Now, let's talk about using a breakout strategy with the rising wedge pattern. Breakout strategies involve identifying key levels for potential price movements. To help with this, we can utilize the Fibonacci channel tool. This tool allows us to mark three important zones: Premature Breakout Zone (0%-50%): Represented by the gray area. This zone indicates where a breakout may occur too early, and it's generally considered less ideal. Ideal Breakout Zone (50%-78.6%): Marked by the green area. This zone is where we want to see a breakout happening as it enhances the likelihood of success. In your current scenario, the price has successfully broken out below the rising wedge pattern within this ideal breakout zone. Lost Breakout Potential Zone (78.6%-100%): Indicated by the light blue area. If the price breaks out beyond this zone, it might suggest a loss of breakout potential. When a breakout occurs to the downside, we can use the following Fibonacci retracement levels: Fibonacci 50% (Target 3 - 1.63): This level is considered a potential target for the price after a breakout. In this case, it's at 1.63, marked with a dark blue horizontal line. Fibonacci 78.6% (Target 2 - 1.65): This level represents another potential target if the price continues to move downward. It's at 1.65, also marked with a dark blue horizontal line. Fibonacci 100% (Target 1 - 1.67): This is the final potential target after a full retracement. It's at 1.67, indicated by a dark blue horizontal line. These horizontal lines help traders identify where they might consider taking profit levels after a successful breakout to the downside. While technical analysis tools like rising wedges and Fibonacci channel can provide valuable insights, it's crucial to combine them with other forms of analysis and risk management strategies when making trading decisions. Always consider your risk tolerance and use proper position sizing to protect your capital.
Short
by DNP-FX
6
GBPCAD - Trend-Following Setup ↗️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. GBPCAD has been overall bullish trading inside the flat rising channel in orange and it is currently approaching the lower bound / orange trendline. Moreover, the zone 1.68 is a strong support. 🏹 So the highlighted orange circle is a strong area to look for trend-following buy setups as it is the intersection of the green support and lower orange trendline acting as a non-horizontal support. As per my trading style: As GBPCAD approaches the lower orange circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
by TheSignalyst
2
GBPCAD - AnalysisGBPCAD W1 - The price has been moving in a narrowing channel since the beginning of the year, the trend line has already been broken. What can this tell us? After fixing behind the trend line, a downward movement may develop, which will lead to a correction on the MN timeframe. If it is implemented, then we should expect the price to fall to the level of 1.66245 and further decline to 1.56857. What can be expected now? If the formation is not false, then the nearest target is 1.67585 and further movement to 1.60981. Long-term perspective - targets 1.65451 - 1.60770 - 1.56857 Medium-term perspective - targets 1.67585 - 1.65451 - 1.60770
Short
by Trade_Hive_Signals
2
GBPCAD H4 | Bouncing off support level?Based on the H4 chart analysis, we can see that the price is falling toward our buy entry at 1.7021, which is an overlap support. Our take profit will be at 1.7087, which is an overlap resistance level. The stop loss will be placed at 1.6940, High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Forex Capital Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. FXCM Australia Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
💱GBPCAD - Triangle on the background of the uptrend GBPCAD in the format of a global ascending price channel forms a setup that may resume upward movement after a small stagnation in the flat format TA on the high timeframe: 1) The market is in a bullish trend. Consolidation is forming above 1.71000. 2) The liquidity area on the support side may not let the price down, but on the contrary, push it up and make the price break the resistance TA on the low timeframe: 1) A triangle continues to form. The price is consolidating 2) A false breakout of resistance is formed, the price forms a rebound. 3) Two scenarios are possible: 1) price will form a quick retest of resistance - a situation with a high chance of a breakout. 2) price will reach the support and market reaction will be formed from this area. Key support📉: 1.70987 Key resistance📈: 1.71750, 1.71910
Long
by AndeWave
8