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Gbpcadforecast

GBPCAD | Perspective for the new week | Follow-UpPrice activities moved the other direction as price Breakout of the uniform range between CA$1.76000 and CA$1.68000 as the Pound gained traction following a recent reduction in the price of Oil (explained in my last publication, see link below for reference purposes); I shall be looking forward to Bullish entries in the coming week(s). Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand Observation: i. Demand Level III has remained "Supported" since December 2020 as we have experienced the consecutive rejection of this level in the past three months. ii. The last quarter of 2020 witnessed the emphatic rejection of CA$1.75000 not until a Breakout of this level in late January 2021 giving us a clue that participants have finally gained a pint of confidence for the Pound. iii. However, since the Breakout of CA$1.74000 early this year, this level appears not yet strong enough to hold price ( a feat showing doubts in the recent Bullish bias) as we experienced a significant breakdown in mid-March 2021. iv. This brings my attention to Demand Level III, which has held price eight different times in the recent past and with the Bullish engulfing candle springing out of this level last Thursday, I shall be expecting a Breakout/Retest of CA$1.74000 (Demand Level IV) in the coming week(s) to join the rally. v. As CA$1.74000 remains my Key level going into the new week, I shall be waiting to see a Breakout/Retest of this level (anywhere above Demand Level IV) to join the rally. 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 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 - Buy Entry - H4 ChartGBPCAD - Buy Entry - H4 Chart Buy @ Current Market Price Stop Loss @ 0.5% to 1% of your Account Balance Please support the idea with a Like 👍 Follow me to receive updates of this analysis, plus new ideas ✅ Thank you for your support 😊 Wishing you successful trading 🙏 ------------------------------------------------------------------------------------ 🔺 DISCLAIMER 🔺 The content of this analysis is subject to change at any time without notice. 🔺 It is provided for the sole purpose of assisting traders to make independent investment decisions. 🔺 You must do your own research to create your own trading plan for the market. ------------------------------------------------------------------------------------
Long
by UnknownUnicorn5418842
Pound Canadian Short Position Trade - 2021The analysis is based off my unique approach to seasonal tendencies when Price is in a Ranging Market. Taking 2020 as the third year if we look back until 2017 you will notice how, during this period, the market has been repeating a pretty noticeable Fractal Pattern. Taking that into account l predicted a significant high to form on the Pound Loonie during First Quarter of 2021 which has happened so far. I'm anticipating the low of this Year to come around Aug-Sep, sweeping the lows around the 1.67387 level and finally taking out the Low created in March of 2020. The Canadian Employment Numbers came in positive for the Loonie @259.2K far larger than the forecast of 75.0K, this occurrence might just be the Fundamental confluence needed for my Technical analysis to pan out as anticipated.
Short
by watersthetrader
GBPCAD: very interesting signal on DailyHi Traders, This is my view on this cross for the next few days. #GBPCAD Waiting for today's candle closing below yesterday to confirm a bearish environment. Then I personally waiting for the impulse to end and a retracement as well. I remind you that this is only a forecast based on what current data are. Therefore the following signal will be activated only if specific rules are strictly respected. If you follow my strategy you will be able to identify the right filters and triggers to enter correctly the market and avoid fake signals. I really hope you liked this video and I would like to know what do you think about this analysis, so please use the comment section below this video to give me your point of view. Thank You ——————————— Trading Kitchen
Short
by kitchen_trading
GBPCAD Pin Bar On Daily Chart? GBP still strong? 47 Week High!Is that a Pin Bar on GBPCAD Daily Chart? GBP still strong? 47 Week High! Is a new 52 week high the next victim here? Some interesting Price action here now midweek across the GBP Pairs. There is still so much time left in the day to trade, However there is NO DOUBT that many traders will be eyeing the current price structure of this pair and its current appearance on the DAILY CHART which Clearly looks LIKE A PIN BAR is forming, But remember again there is still plenty of trading hours left in today for that Candle to really change its appearance by the time the day ends. Our CURRENCY HEAT MAP has called GBP strength up until now which has clearly been working for this month of February. Maybe its time for GBP to catch it breath having had such a run after the past few weeks. CAD is still MID range and the Commodity CUREENCIES have remained bullish overall for several weeks so GBPCAD may not be the optimal GBP trade at the moment unless in fact you want to be trading the RETRACEMENT as a MEAN REVERSION trade back to an obvious area of value where the bulls may come back in for another charge higher. Whichever side you decide to trade the main thing here is to remember where large POOLS of LIQUIDITY remain on the chart. On the bullish side the 47 WEEK HIGH is a clear point and we have seen a strong reaction therefore if this is to go higher the 52 WEEK HIGH is a clear and obvious location. Alternatively January 29 high @ 0.7640 if revisited will clear a lot of MONEY as the TREND LINE LONG TRADERS stops would have been cleared and the multi hour CONSOLIDATION under 0.7650 will be cleared too.
Long
by seekingpips