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Gbpcadlong

Time To BUY GBPCAD ?? 2000 Pip Move ??Higher Timeframes govern the Lower Timeframes so we must always know what is happening on the Monthly and Weekly charts as you will see me explain on this GBPCAD trade setup using a top down approach. On the Monthly charts we have now entered a key buying area and approaching a very strong ALL time support zone dating back over 12 years ago there has been several strong reactions here previously see image below. The Monthly chart alone doesn't validate us entering the market straight away we need to drop down to the weekly charts and have a look what we see on the WEEKLY charts is clear change of structure in price action as we start to enter and approach the MONTHLY support area as shown in the image below BUYERS entering the market every time price drops and the down swings getting shorter as we approach the KEY level. Also starting to see the formation of a MACD divergence selling exhaustion?? (see image) Next we drop down to the DAILY charts ( see image above) price action clearly validating it's time to start scaling into a BUYING position. We can see the brakes starting to come on price as it enters the KEY MONTHLY level price action starting to move sideways entering an ACCUMULATION market cycle phase after a long drop in price, this is evidence by the DIVERGENCE signals on the MACD. We can start to scale into a BUYING position here a move back up to 1.76 is very possible we want our stops under the MONTHLY area great R/R on this position. Hope you enjoyed this breakdown.
Long
by TheFxAce
Pound loonies support test againHi everyone in the TradingView community. I am Rana Sarmad I like to share and talk about trading strategies. If you are a member of my subscribers list and like my ideas, please don't hesitate to let me know by hitting that Like button and growing my notification count! We are going to discuss about FX:GBPCAD We can see a market break its strong support in D1. but weekly candle is running and FED and GBP rates are ahead tomorrow. So we are expecting a strong rise near support. This is my opinion, I really hope this will be useful for you. This is not a financial advice. Always take trade at your own risk, Be ready and take care your money. Have a great profit ! Risk Warning: Trading Forex and Leveraged Financial Instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Trading non-leveraged products such as stocks also involves risk as the value of a stock can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the EMOTT brand based on the legal requirements in his/her country of residence........
Long
by Theranasaramd