GBPCAD is currently in a big ABC correction. We saw a really complex midsection (wave B). We are now looking for bullish price action to catch wave C, which is going to be a massive 2500pips. Trade Idea: - we are currently seeing a brief retracement on lower timeframe. Watch for that to complete and bullish price action to appear - When bullish price action...
GBP FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE The overall bleak economic outlook for the UK, with exceptionally high Inflation and rapidly falling growth have been the biggest negative driver for Sterling. With rising price pressures and falling demand, the risks of stagflation has risen substantially, so much so that the BoE have forecasted a possible...
GBPCAD has inverted head and shoulders pattern. Trade has potential boost area to go higher level as shown in the graph. Further information will be updated with time to time
As per our previous update for GBPCAD our bias still remains long. Price has completed a deeper exhaustion creating a more beneficial trade level. A break below the current level and a break out of the bull flag to the downside (the opposite to the typical bull flag upside breakout) will mean longs are no longer valid. Expected is a good 4 hour time frame low test...
GBP FUNDAMENTAL OUTLOOK: WEAK BEARISH BASELINE The overall bleak economic outlook for the UK, with exceptionally high Inflation and rapidly falling growth have been the biggest negative driver for Sterling. With rising price pressures and falling demand, the risks of stagflation has risen substantially, so much so that the BoE have forecasted a possible...
after breaking out the support area i think it will retest and keep going down
The GBPCAD pair has been trading within a Falling Wedge pattern, which broke last Thursday to the upside. So far this move has been short-lived as the price got rejected on Friday on the 1D MA50 (blue trend-line) and continues today this trend. While the 1D price action has been on Lower Lows (Falling Wedge's bottom), the RSI has been on Higher Lows, indicating a...
Price has found support and the momentum has shifted from bearish to bullish with the typical trend change retesting the PL (previous low of bearish downtrend) before making the bullish move to the upside. Now that the push phase has completed and successfully created a new high higher price has now entered the exhaustion phase which will create the long zone.
Sell to the low for a RRR of at least 1:2. We already have a new low on H1 following rejection at an unfair high of the VP.
- GBPCAD is on a strong DOWNTREND on the higher time frames. - The weekly has broken through the previous low and a new bearish engulfing candle is currently developing. - On a 4-hourly TF, we are seeing the closure of a bearish engulfing candlestick while all MA20-50 & 100 are trending above the price, suggesting bear pressure. - Hedge funds are also selling off...
GBPCAD on the 4h chart reached as expected the daily support at the 1.58 area. The price tested the area 3 times creating double / triple bottom over the support and can now look for some short time retracement to upside even though the main trend remains bearish on the weekly timeframe. How can i approach this scenario? I will wait for the London market open...
Buy alert has presented for GBPCAD This is the two hour time frame you are seeing. Alert has presented. Printed trade labels show all the trade details and I'm aiming for the TP3 value. Green line is my TP target and Red line my SL point. RSI is also seen on idea. This paor isn't over bought yet so room to stretch legs to the TP target. Entry...
Back in February, which was our last GBPCAD idea, the pair was trading within a Channel Down that offered us an accurate sell trade: Since then, the pattern broke to the downside and the pair now sits at more than -9% from its February 21 High. This however gives a new high probability pattern on the long-term as both the price action on the 1D time-frame and...
Since 2016, GBPCAD has been moving in a wide horizontal channel. Recently, GBPCAD has reached the bottom of the range at the level of 1.5900. We can clearly see that many reversals have occurred from this level. Observing the weekly chart, reversals have all occurred through forming clear bullish candlestick patterns. Therefore, we are currently waiting to see a...
Hey traders, in this week we are monitoring GBPCAD for a selling opportunity around 1.592 zone, once we will receive any bearish confirmation the trade will be executed. Trade safe, Joe.
Hey traders, in today's trading session we are monitoring GBPCAD for a selling opportunity around 1.586 zone, once we will receive any bearish confirmation the trade will be executed, Trade safe, Joe.
GBPCAD on the 4h chart after the last bearish leg retraced exactly at the 0.382 Fibonacci level. The price is now testing again the daily support at the 1.63400 level. How can i approach this scenario? I will wait for the break below the support and when that will happen i will look for a nice short order according to the Plancton's strategy rules. ––––– Follow...