waves regular flat snr level breakout price action
GBPCAD on the 4h charthas retraced at the 0.618 fibonacci level. The price found a support over that area and an inversion can be expected. How can I approach this scenario? I will wait for a possible break above the structure and in that case I will look for a nice long order according to the Plancton's strategy rules. ––––– Follow the Shrimp 🦐 Keep in...
The GBPCAD pair broke above the 1D MA50 (blue trend-line) this week for the first time since February 24 and is consolidating. This is the first sign that the trend might be changing from long-term bearish to bullish. This is evident on the 1D RSI which has been on Higher Lows for months. The very same pattern was last seen in Q3/ Q4 2021. After the price broke...
GBPCAD on the 4h chart reached as expected the daily support at the 1.53500 area. The price tested the area 2 times creating double 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 and...
The tradeWELL FX algo printed an entry-with-trigger on long GBPCAD on 08/01 with entry between 1.56667 and 1.56917. Initial target at 1.59838 with stop at 1.53496 trailing. I actually entered late and into the 1.575 resistance. Recent price action forming what appears to be a cup-and-handle with fairly distinct rounded bottom. Counter-trend trade, so precarious.
My idea today GBPCAD/short TP/Price zone TP1: 1.54400 TP2: 1.54200 TP3: 1.53800
There can be a possible SHORT swing trade opportunity. Currently, the pair is hanging around the 6 Year low. And with GBP looking very weak a short opportunity is highly probable towards the 9-year low. Be patient. Trade Safe, Amaanos
Midterm forecast: While the price is above the support 1.52450, beginning of uptrend is expected. We make sure when the resistance at 1.60016 breaks. If the support at 1.52450 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: A peak is formed in daily chart at 1.60020 on 06/17/2022, so more losses to support(s)...
Midterm forecast: While the price is above the support 1.52450, beginning of uptrend is expected. We make sure when the resistance at 1.60016 breaks. If the support at 1.52450 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: A peak is formed in daily chart at 1.60020 on 06/17/2022, so more losses to support(s)...
Hey traders, After 1-month consolidation around 1.547 - 1.554 demand area, the market finally broke and closed below that. The broken structure turned into a strong resistance now. I will expect a bearish trend continuation from that at least to 1.53 level. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like,...
Hey traders, in today's trading session we are monitoring GBPCAD for a selling opportunity around 1.553 zone, once we will receive any bearish confirmation the trade will be executed. Trade safe, Joe.
GBPCAD on the daily chart after the last bearish leg retraced exactly at the 0.786 Fibonacci level. The price is now testing again the daily support at the 1.57500 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...
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...
Hello Traders, here is the full analysis for GbpCad , let me know in the comment section below if you have any questions. The ellipse could represent a possible zone with good risk/reward to accumulate long position. Please note that all the information and publications hera are not meant to be, and do not constitute, financial, investment, trading, or other...
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...
- I would wait for a re-test of the blue zone first. - A clear price action would be the entry point - This is on D-W timeframes so it will take a while.. - R:R is ~1:4
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...
Hey traders, in today's trading session we are monitoring GBPCAD for a selling opportunity around 1.566 zone, once we will receive any bearish confirmation the trade will be executed. Trade safe, Joe.