GBPCAD trade ideas
📚 Learn More 💰 Earn More with us: Range-Bound Market📚 LEARN MORE
💰 EARN MORE
With ForecastCity
What is a Range-Bound Market?
A range-bound market is one in which price bounces between a specific high price and a low price.
The high price acts as a major resistance level in which price can’t seem to breakthrough.
Likewise, the low price acts as a major support level in which price can’t seem to break as well.
The market movement could be classified as horizontal, ranging , or sideways.
A range-bound market is the opposite of a trending market.
In a range-bound market, there is no clear direction.
How to trade Range-Bound Market?
1- Trading Major Support and Resistance:
Traders capitalize on range-bound trading by repeatedly buying at the major support level and selling at the major resistance level until the security breaks out from a price channel.
The idea is that the price is more likely to rebound from these levels than break through them, which puts the risk-to-reward ratio in their favor, although it's important to always watch for a potential breakout .
Technical indicators, such as the relative strength index (RSI), can be used to confirm overbought and oversold conditions when price oscillates within a trading range.
For example , a trader could enter a long position when the price is trading at major support and the RSI gives an oversold reading below 30. Alternatively, the trader may decide to open a short position when the RSI moves into overbought territory above 70.
Most traders place stop-loss points just below the major support level and above the major resistance level to mitigate the risk of heavy losses from a high volume breakout.
2- Trading Breakouts:
Traders can enter in the direction of a breakout from a trading range. To confirm the move is valid, traders should use other indicators, such as volume and price action .
For instance, there should be a significant increase in volume on the initial breakout , as well as several closes outside the trading range. Instead of chasing the price, traders may want to wait for a retracement before entering a trade.
For example , a buy limit order could be placed just above the top of the trading range, which now acts as a support level.
A stop-loss order could sit at the opposite side of the trading range to protect against a failed breakout.
❤️ 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 ❤️
GBP/CAD - BUY ZONE 1.73000-1.73100 - BUYS CONTIUATION Looking to buy gc from the region of interest
Can see gc has been looking to push higher to minor resistance we could see one more correction to our buy zone there is a candle imbalance I will be looking at buying at this point
Confluences on buys on GBP/CAD
1. In consoldation but it looks to go higher overtime looking at minor resistance as a target
2. 78% - could come back into this region orders have been Collected in the past
3. S1- intraday 20/01/20
4. orders in this area
5. ma's looking bullish
reasons for targets (TAKE PROFIT)
1. -0.50
2. r2 intraday
3. close to minor resistance
4. APM maxed out
BUY LIMIT - 1.73000-1.73100
STOP LOSS - 1.72950
TAKE PROFIT -1.74100
RISK TO REWARD 1:7
DO NOT ENTER THIS TRADE IF WE BREAK BELOW OUR STOP LOSS THIS TRADE WILL BECOME INVALID
( PRICE CAN GO STRAIGHT UP SO WE MIGHT GO TO TP BEFORE OUR ORDER GETS FILLED)
💡 Don't miss the great sell opportunity in GBPCADTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.738). 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 34.
Take Profits:
TP1= @ 1.7290
TP2= @ 1.7235
TP3= @ 1.7185
TP4= @ 1.7120
TP5= @ 1.7048
SL: Break Above R2
❤️ 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 ❤️
DOWN-SIDE FAVOUREDOANDA:GBPCAD
AS WE BREAK OUT OF THAT ASCENDING CHANNEL,MORE DOWNSIDE MOMENTUM SHOULD BE EXPECTED FROM THIS PAIR.
Short GBP/CADFall in this Fibo Cycle
First it retraced from 61.8%, then tested 50% and fell and now again testing 50% at 1.7400
If falls and breaks 1.7100 on a weekly closing:
T1 - 1.6800
T2 - 1.6600
SL - 1.7450
GBPCAD | BULLISH REVERSALFORECAST: Price rejects FIBO 61.8 and making bullish wedge which indicates a strong uptrend.
EMA: 800: Uptrend
EMA 200: Uptrend
Many confluence confirmed UPTREND
Thanks to all those who have followed me and liked my post.
Special thanks to all those who DM me and commented on my analysis wanting to know more about the trade.
GBPCAD at consolidation position strong pullback/DowntrendFORECAST: Price rejects previous high and heading towards resistance, small downtrend we can expect here.
100 EMA: Downtrend
800 EMA: Downtrend
Note: Scalp Trade can be profitable at the moment
Bear Flag - SellPrice is clearly forming a bear flag pattern.
Hence looking to enter short when the setup is ready
Simplicity is key to be successful in trading.
Thanks to all those who have followed me and liked my post.
Especial thanks to all those who DM me and commented on my analysis wanting to know more about the trade.
GBPCAD Long at 200ema GC tried to break resistance at 200ema but failed couple of times. This time its making lower highs , so I would long it and catch the hefty breaout.
📚💰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 ❤️
gbcadreason fib 764 confirmation for that is ma cross ,bb middle band support bounce ,trendline, normal support ,if this trade losses then the confluence of the daily is the reason
