Get started

GBPCAD

📚💰Head and Shoulders in GBPCAD - Learn More Earn More with US📚 LEARN MORE 💰 EARN MORE With ForecastCity Head and Shoulders Definition: A head and shoulders pattern is also a trend reversal formation. It is formed by a peak (left shoulder), followed by a higher peak (head), and then another lower peak (right shoulder). A “ Neckline ” is drawn by connecting the lowest points of the two troughs. Neckline support does not need to be strictly horizontal. . This illustrates that the upward trend is coming to an end. . When a Head and Shoulders formation is seen in an uptrend, it signifies a major reversal. . The pattern is confirmed once the price breaches the neckline support In this example, we can easily see the head and shoulders pattern. How to Trade the Head and Shoulders Pattern: ENTRY: we put an entry order below the neckline. TARGET: We can also calculate a target by measuring the highest point of the head to the neckline. This distance is approximately how far the price will move after it breaks the neckline. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Education
by ForecastCity_ME
4
Don't miss the great buy opportunity in GBPCADTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.7310). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCAD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 55. Take Profits: TP1= @ 1.7428 TP2= @ 1.7534 TP3= @ 1.7673 TP4= @ 1.7793 TP5= @ 1.8033 SL= Break below 1.7235 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
8
GBPCAD Update: Profit=14920 SL=3000 Reward/Risk > 4.9 :1 Trade Setup summary: Profit targets=14920 pip (750 + 1230 + 2690 + 3850 + 6400) Stop Loss =3000 pip Reward/Risk > 4.9: 1 Current Status: Total Profit: 3588 pip Closed trade(s): 1980 pip Profit Open trade(s): 1608 pip Profit Trade Setup: We opened 5 BUY trade(s) @ 1.74050 based on 'previous Forecast' at 2020.08.05 : Closed Profit: TP1 @ 1.7480 touched at 2020.08.06 with 750 pip Profit. TP2 @ 1.7528 touched at 2020.08.06 with 1230 pip Profit. 750 + 1230 = 1980 Open Profit: Profit for one trade is 1.74586(current price) - 1.74050(open price) = 536 pip 3 trade(s) still open, therefore total profit for open trade(s) is 536 x 3 = 1608 pip Technical analysis: . GBPCAD is in a range bound and the beginning of uptrend is expected. . The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 50. New Trading suggestion: . There is still a possibility of temporary retracement to suggested support line (1.7405) again. if so, traders can set orders based on Price Action and expect to reach short-term targets. New Take Profits: TP1= @ 1.7480 TP2= @ 1.7528 TP3= @ 1.7674 TP4= @ 1.7790 TP5= @ 1.8045 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
8
Don't miss the great buy opportunity in GBPCADTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.7405). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCAD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 49. Take Profits: TP1= @ 1.7480 TP2= @ 1.7528 TP3= @ 1.7674 TP4= @ 1.7790 TP5= @ 1.8045 SL= Break below S2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_ME
10
Don't miss the great sell opportunity in GBPCADTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1.7455). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCAD is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 31. Take Profits: TP1= @ 1.7260 TP2= @ 1.7130 TP3= @ 1.6958 SL: Break Above R2
Short
by ForecastCity_EU
10
Don't miss the great sell opportunity in GBPCADTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (1.7125). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCAD is in a range bound and the beginning of downtrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 42. Take Profits: TP1= @ 1.6958 TP2= @ 1.6635 TP3= @ 1.5874 SL: Break Above R2
Short
by ForecastCity_EU
3
Don't miss the great buy opportunity in GBPCADTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.7135). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCAD is in a uptrend and the continuation of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 66. Take Profits: TP1= @ 1.7322 TP2= @ 1.7515 TP3= @ 1.7750 SL= Break below S2
Long
by ForecastCity_EU
Don't miss the great buy opportunity in GBPCADTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.6591). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCAD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 78. Take Profits: TP1= @ 1.6817 TP2= @ 1.6970 TP3= @ 1.7312 SL= Break below S2
Long
by ForecastCity_EU
1
Don't miss the great buy opportunity in GBPCADTrading suggestion: . There is a possibility of temporary retracement to suggested support line (1.63415). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . GBPCAD is in a range bound and the beginning of uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 76. Take Profits: TP1= @ 1.66000 TP2= @ 1.67700 TP3= @ 1.69700 SL= Break below S2
Long
by ForecastCity_EU