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Gbpcadforecast

GBPCAD: Hold or FallWill this pair hold the previous resistance or collapse through it? The supply rejection was strong but we still need to cross back over the EQH's if we have a chance of falling lower. I have illustrated what I would like to see, I will leave updates below. Traders, if you have your own opinion about this idea, write in the comments section, I always reply. RISK DISCLAIMER: Trading Crypto, Futures, Forex, CFDs, and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use a tight stop loss. -------------------------------------------------------------------------------------------------------- Please like, subscribe, and share this idea with others! --------------------------------------------------------------------------------------------------------
by AlkalineFX
16
GBPCAD BUY LIMIT 800+pips ?!Looking for a potential 800 pip swing on GBPCAD. We have cleared eq lows and have created a break-of-structure (bos). Looking for price to play into the last daily orderblock and then shoot up. I have two potential stop loss ideas, on the tighter stop loss I will be risking 2% while risking 1% on the larger stop loss trade to maximise r:r I have highlighted a green entry zone which I will hedge positions into once price arrives into that zone. Potential take profit areas are indicated through purple lines. If you do take this trade and profit, feel free to msg me and send some screenshots😊 DISCLAIMER: I am not a financial advisor and nor is this financial advice. Only risk what you can afford to lose. Trading live carries risk and you may make money or lose some or all of your capital. I am not liable for any gains or losses made.
Long
by Turtlesoup_Maestro
GBPCAD | Perspective for the new weekPrice action has been a little choppy since it broke below key level @ C$1.70500 and the inability of sellers to break below C$1.68000 in the last 48days gives credibility to the Demand zone indicated on the chart. Current market momentum signals are in alignment with a reversal setup in the short term for the Pound in the coming week with eyes focused on a possible break above the Key level. Tendency: Uptrend (Bullish) Structure: Breakout | Supply & Demand | Trendline | Reversal pattern (Double Bottom) Observation: i. Since the beginning of September 2021, the Pound recorded a 5.19% decline to find a bottom at C$1.67000 area in the last two weeks which is evident on the chart with two consecutive testing of this area. ii. This is easily identified by drawing a line over pivot highs hereby revealing the prevailing direction and speed of price in the last two and half months. iii. It is important we take into consideration that since price test C$1.67000 level, price continued to find higher lows which culminated in a Breakout of Bearish Trendline and Key level (Neckline) during last week trading session. iv. The appearance of a Double Bottom within a zone that has established Demanding power as far back as December 2013 (see weekly and monthly chart) could be a significant clue to go Long in the coming week(s): v. Technically, the formation of a Double bottom pattern after a major/minor downtrend is regarded as a set-up that describes a change in trend and a momentum reversal from prior leading price action. vi. Breakout of the Neckline @ C$1.70500 confirms completion of a reversal set-up that signals the beginning of a potential uptrend. vii. This been said, above key level remains a comfortable area to get involved in a Long position in the coming week... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:4 Potential Duration: 10 to 20days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks 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
3
GBP/CAD:DOWNTREND|PRICE ACTION| SHORT SETUP...Bank of Canada, Macklem: We may raise the rate sooner than previously thought. Welcome back Traders, Investors, and Community! Check the Links on BIO and If you LIKE this analysis, Please support our Idea by hitting the LIKE 👍 button Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this. Feel free to request any pair/instrument analysis or ask any questions in the comment section below. Have a Good Day Trading !
Short
by FOREXN1
5