JWagnerFXTrader
Long

GBP/CAD at Range Low & 200 SMA

FX:GBPCAD   British Pound/Canadian Dollar
131 0 1
The GBP/CAD             has been stuck in a 400 pip range for most of 2014.

This morning, the pair reached its 200 Day Simple Moving Average ( Daily Chart ) which also happens to be the range low for the pair as well.

On ranging pairs, one of my favorite strategies is to buy at support on bullish divergence with the CCI oscillator. When inspecting this pair closely on a 3 hr             chart time frame, we have 2 instances of bullish divergence in that the price has created a lower low while the oscillator is creating a higher low.

This combination suggests price is running into support on slowing momentum which is what I want to see on a range pair.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out