GBP/CAD has made a double bottom (albeit imperfect) and a new high as well. Price has come back to re-test the previous high and looks likely now on the lower time frames (D, 4H) as well to push up.
TWO WAYS TO BUY 1. AGGRESSIVE WAY - FROM "E" WHEN TRIANGLE COMPETED OR 2. WITH DISCIPLINE - FROM "D" LEVEL BREAK OUT
BUY bottom of channel with 0.382 Fib support FX:GBPCAD
I've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade. For the past days, I've been obsessed with Canadian Dollar pairs. If this Forex pair does break the graphed line, it may possibly dip to the 1.59500 area.
GBP/CAD can possibly break it's support and continue it's bearish trend 300 pips down. At the moment being the support is not strong and the chances of it breaking even further down are favorable. Invest after your own analysis and money manage properly. Happy trading!
GBPCAD GBPCAD Long Opportunity, please watch strong support level for reversal or breakout.
There is a possibility that GBP/CAD may go down more than 300 pips to find back support. If it does break it's current support, then do not hesitate to short it till it finds it's next one. Always make your own analysis before investing as well as money manage properly! Happy trading!
As seen in chart, Traders Dynamic Index is indicating by the Weekly chart that the market has been oversold and is already turning uptrend (as seen by the drawn trendline cross (considering the indicator trend start signal too). This is my analysis on Weekly Time frame chart for overall future move. Will also show lower time frame analysis.
longing based on 2 broken trendlines. all details on the chart.
price is at a resistance dating back from October 10th 2010 and a trend line that started feb 25 2016. If price continues to fail to break above this zone we can see price make a correction and begin to go bearish. We also have a bearish divergence on MACD and Momentum.
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... 21 Major Cross-Rates (of this 1st Week 2017) statistical data @ my GOOGLE Drive drive.google.com Best regards Aaron