Technical on the chart. Fundamentals: After BOC Poloz comments. Puts the Bull back in control in this pair. He Repeats that drop in oil prices very significant shock for Canada He Repeats that oil price drop is front-loaded, one-time shock Aiming for highs 1.9100s Not for a new highs for this pair. If we get more hawkish tone from BOE that could be case but...
Hey traders, This is Ahmed the founder of Pro Trading University, I am going to short this market once it hits the red level. The trend is bearish. I know this after we closed below the previous cycle low. I think I did a good job in explaining my thought process in the chart. Please ask me any question, I will be happy to answer them as I will be staying here in...
Factors of confluence: - trade is with the trend (see trendline) - doji forming (waiting for weekly close) - rejection of .618 retrace (again waiting for weekly close) - rejection of 50 EMA I'm waiting for the weekly close and Canadian CPI figures to take this pair long. So lets see what happens. Patience is key!
After reaching the top at 1.95 GBPCAD is now in selling mood. The red area plays as a support/resistance. Either we see a pullback from that point or a sell off. I think we should see a test of the descending long tern trend line. That's why i short it.
The British Pound has really underperformed for the past couple of weeks, partly due to the Bank of England's dovish stance after slashing its inflation forecasts in February. But part of the pound's recent weakness is most likely due to the upcoming general elections in the UK (7 May). I tend to think that all those speculative shorts will end up leading to the...
3 technical signals showing confluence around the 1.8280-1.8320 zone level. A) 61.8% FIB retracement B) Support/resistance zone C) Possible trend line support Long GBPCAD 1.8300 SL below 1.8250 TP1 1.8700 TP2 1.8900
See related idea for fundamentals. Technicals layed out on the chart. Looking for break of 1 hr downtrend before going long.
#GBPCAD Daily/4H Short Idea (Cypher) @TradeYodha (TradeYodha.com) 1. Cypher Pattern in the zone 2. 200 sma close to the zone 3. possible harmonic move Wait for confirmation in the zone I would love to hear your opinion, feel free to agree or disagree in your comments. Please give it a (thumsup) if it makes any sense.
Currently we are sitting on major support. We had break of trend on 7 day RSI. See chart for technical areas of interest. Carney hawkish. Poloz dovish. CA economy dragged by oil. Deflation on GB not a major concern. Low inflation is sparking consumer spending which what I like to see to support a rate hike. BoE deputy governor Ben Broadbent says in an...
Price Rejected the Following Zone of Confluence: + Yearly Pivot Support. (Dotted Line) + Key Retracement Zone. (50% / 61.8%) + 1.860 Round Number Support . + Breakout of Bullish Wedge. (Continuation Pattern) + HUGE Bullish Pinbar on Weekly Chart. I haven't entered this trade yet. I am looking for a retest of the 50% Fib + Top of the Bullish wedge (and previous...
After reaching the level I expected on my previous analyze : Pound seems to be ready for a bullish rallye, since price has landed on a key level area, showing us a confluence with major support, 0.5 fibo retracement and RSI divergence. Reversal pattern is on going,I expect a small pull back before trigger the LONG position, to get a better entry level and a...
Looking at following potential interim development: 1 - background geometry to 1-4 Line 2 - Range: 1.89098 to 1.89610 Expecting further decline based on predictive/forecasting model, aiming for following bearish target: - TG-Lo = 1.79707 - 20 MAR 2015 OVERALL: Background geometry is likely to contain price subdued to range defined above....
PRICE AT AN IMPORTANT KEY LEVEL AND JUST BOUNCED OFF THE RESISTANCE TURNED SUPPORT FORMING A DOUBLE BOTTOM. ALSO THIS KEY LEVEL IS IN CONFLUENCE WITH THE 0.5 FIB LEVEL. GBP AVERAGE HOURLY EARNINGS IS EXPECTED TO COME OUT BETTER AT 2.2% AND THE REASON WHY THIS IS IMPORTANT IS BECAUSE THE BOE (BANK OF ENGLAND) SAID THEY'LL BE MONITORING HOURLY EARNINGS DATA. IF...
@TradeYodha TradeYodha.com GBPCAD 4h Short Opportunity 1. Structure retest 2. FIB 38.2 level confluence with 161.8 fib extension 3. 50 sma in the region Beware of the round price level 1.91000 close. Price can retest that and fall Hope this give you some useful ideas, don't forget to hit the like button :) Thanks Remember- Plan your battle well in advance and win.
Divergence between price and MACD Price rising while MACD Falling. I love a short on a break of the uptrend line all the way down to the Monthly Pivot and Ultimately to the Weekly Pivot. This can be an easy 500 pips -750 opportunity
The major trend is UP. We are in a pullback and already in a confluence levels. This little pinbar gave me a possibility of entry.
I'm looking at the possibility of a short setup emerging from this pair. On the shoulders of crude showing signs of a bottom, and possible reversal, and an overall bullish gold, CAD might have what it takes to regain strength and pull this pair lower, back to the consolidation zone below. The ATR bands indicator I've been using recently displays the current...
I`m still interested in buying Lonnie as the retracement after the Bank of Canada shocking interest rate hike decision has not been finished yet especially for the following pairs: GBP/CAD, CAD/JPY and USD/CAD.