⭕️SELL GBPCAD ; its time to sell 🧐⭕️You see the analysis of the pound against the Canadian dollar in the daily time (GBPCAD , 1D)❗️🔎
🔰As you can see, the price moves in a flag-like pattern where the top and bottom lines are highlighted in white. Given the price in the lower line of the flag-like pattern and its uptrend line, as well as the purple supply range, buying this low-risk currency pair makes sense🧐
The target is also placed in the range of the resistance line (orange line)❗️
The profit and loss limits are also shown in the picture👌
⚠️⚠️Please observe capital management and open a low volume transaction❗️❗️
I hope this analysis is useful for you🙏🏻🌹
📌Please introduce the "TRADER STREET" to your friends 🙏🏻
____________________📈TRADER STREET📉___________________
Gbp-cad
GBPCAD Strong Selling opportunityHey traders, in today's trading session we are monitoring GBPCAD for a selling opportunity around 1.643 zone, in this week we have an important BoC statement where we expect BoC to Raise rates by 0.50 which considered very hawkish and should contribute to CAD strength.
Once we will receive any bearish confirmation the trade will be executed.
Trade safe, Joe.
GBPCAD: Time to Buy?! 🇬🇧🇨🇦
Hey guys,
Update for GBPCAD.
As we earlier discussed the pair is trading on a key weekly level.
On 4H time frame, the price formed a double bottom formation
and broke a resistance line of a falling wedge pattern.
It looks like the market will go even higher.
Goals:
1.6767
1.69
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GBPCAD: Classic Top-Down Trading Setup 🇬🇧🇨🇦
GBPCAD broke a key daily structure support.
Now we see its retest.
Analyzing intraday time frames I spotted a minor horizontal structure resistance.
On that the price formed a double top formation and the broke its neckline.
I expect a bearish trend continuation.
Goals: 1.6875 / 1.683
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GBPCAD Short Supply And Demand Trade Setup-Price broke upward trend lines
-Price removed pivot point demand zone
-Quality Rally Base Drop Supply Zone to short at once price returns to the RBD. Lower timeframe Shorts are also valid inside the supply.
Divergence appears and selling opportunity in GBPCADH4 time frame.
Structure: Uptrend.
A divergence signal appeared at the 1.73000 resistance area.
Waiting for downtrend confirmation could find selling opportunities.
The profit target is the 1.71400 and 1.69600 price zone.
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Wish you all have a good trading day!
GBPCAD approaching a top. Sell opportunity.GBPCAD has been trading within a Channel Down pattern since the February 24 2021 High. That was the first of a series of Lower Highs. Right now the 1D RSI is approaching its multi-year Resistance level, same way the pair is approaching the top (Lower Highs trend-line) of the Channel Down. The very same RSI pattern has formed the Lower Highs within the Channel Down. We are turning bearish on this pair targeting just above the 1.236 Fibonacci extension at 1.65000.
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gbpcad short what do we see for gbpcad
rejection of 4h order block
break of structure on previous higher low
trendline break
liquidity pool build up (HL) and grabbed
PLAN :
waiting for my confirmation on 15 min time frame ( waiting for liquidity above 15 higher lows to be grabbed) then enter shorts at premium price
GBPCAD Approaching Key LevelGBPCAD is approaching the 2022 High made on Jan 6th. Price action around this level should determine the short term direction for us to jump in.
A breakout above this level could give us a nice risk/reward trade to follow the trend and ride it up to the next key level of resistance, an area that seemed to see a magnetic effect followed by reversals a number of times in 2021 (5+ times depending on how you measure this).
Alternatively, the Jan 6th high will be a level a large number of traders will be watching and price is starting to look a little overextended.
This previous high could easily act as resistance and see a nice reversal. Price has been respecting an upward trendline and trading steadily above the 20 SMA/EMA, but price has seen a couple of spikes toward this high followed by quick rejections, and momentum for GBP appears to be weakening, as can be seen in the Currency Meter indicator where average GBP RSI is decreasing.
An aggressive short entry would be a close below the rising trendline. With closes below the SMA/EMA being more conservative short entries.
If price reverses I expect to see a temporary pullback not a full reversal, with expectation of a higher low on the Daily.
Overall I'd be happier to see a reversal and take a short, but I'll be watching price action and will jump into a long if we see a strong push and hold above the previous high with broader strength from GBP and broader weakness from CAD on the Currency Meter.