Get started

Gbpcadanalysis

Long term GBP/CAD idea💡Hello traders, Hope you are having fantastic summer and also are finding time for trading as well :) I will really appreciate any likes and follows, that would help grow this channel. GBP/CAD has been inside of descending channel and now price is approaching this channels resistance line. We believe price will go down as price will not have enough momentum to break through this structure. Let us know what you think about this idea. Trade safe !
Short
by UnknownUnicorn3249870
GBPCAD | WEEKLY PERSPECTIVEWith over 170pips in our direction since my last publication (see link below for reference purpose), the British Pound appears to begin a new wave of Bullish run as it completes a 50% retracement at Demand zone (neckline) since Breakout occurred at the beginning of the month (July 2020). Tendency: Uptrend ( Bullish ) Structure: Double Bottom | Correction Observation: i. A correction into the neckline (Demand zone @ 1.69500) of my Double Bottom incites a possible uptrend continuation in the following week as price makes new Support.. Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward: 1:2.5 Potential Duration: 4 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPCAD | WEEKLY FORECASTA similar scenario with GBPJPY: after hitting a Double Bottom in June 2020, The Pound began to build a Reversal structure this month (July 2020) as it Breakout of the neckline (1.69750 level) last week. Tendency: Temporary Uptrend ( Bullish ) Structure: Double Bottom | Support & Resistance Observation: i. Our Double bottom describes a change in trend which emphasizes a momentum reversal from prior Bearish price action. ii. A Breakout off of respected Resistance Key Level (since mid-June 2020) in the latter part of last week. iii . Expecting a Trend continuation after completion of Retracement of Impulse leg that led to Breakout of the neckline. NB: A Breakdown of 1.67700 might render this setup invalid Trading plan: BUY confirmation with a minimum potential profit of 350 pips. Risk/Reward: 1:2.5 Potential Duration: 1 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
Are We In Process of Forming Inverse Head and Shoulders?This looks to be in the process of forming an inverse head and shoulders pattern. So will trade with the move over time. I actually want it to go bullish, but we need a strong confirm for that to happen. So let's what happens. I also have to update my map. That's why you don't see the zones just yet. BULL TPS: • 1.69934 • 1.71040 • 1.71708 BEAR TPS: These are based on where the arrows are. • 1.71234 • 1.70286 These are below the weekly level • 1.68816 • 1.67831 • 1.67196
by NikaJourney