GBPCAD WEEKLY OUTLOOK Technicals:
Weekly Fib
4hr Fib
4hr Pennant (bearish)
Daily resistance
Buys:
Close above daily resistance
Break of pennant
Close above 38.2% fib
Target - 61.8% fib
Sells:
Break of pennant
Close below 1.69
Target Previous lows
Gbp-cad
GBPCAD: will fall to supportGBPCAD is in a strong falling channal. After big rise and touching strong resistance line, it is going to touch it's bottom.The target is the support line.
GBPCAD will fall down to LLLH2 is lower than HL1 and the price didn't break the LH1-LH2 pressure line, the price is still in fall down channal.Target - LL
We may see a good move down if it closes belowHi There,
Hope you all have made a good profit yesterday. tho this pair has broken the trendline but there is not trade call at the moment unless it closes below the marked line because pattern can still change. So trade wisely.
Weekly Key Level SetupThis pair is currently in a multi-day 4hr range and sitting on top of a weekly zone around 1.70366. A weekly zone means a large push whichever way the market chooses (I hope it continues up). So let's enjoy this week's move. Hopefully this is the week it performs a breakout.
BULL TPS:
• 1.70968
• 1.71684
If it breaks the daily zone….
• 1.72830
• 1.73672
BEAR TPS:
• 1.68864
• 1.68433
• 1.67685
• 1.66399
GBP/CAD Bullish View after the Bearish Fakeout🔸 DAILY CHART EXPLANATION:
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🔸Price broke the Ascending Trendline, however, it could not stay below.
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🔸Instead, it has broken the Trendline to the upside.
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🔸Before considering any long position, we are waiting for a break of the previous higher low on a lower timeframe to confirm the direction.
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🔸 Will look for a lower timeframe bullish setup.
🔸 4H CHART ANALYSIS:
GBP/AUD Bearish View🔸 DAILY CHART EXPLANATION:
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🔸Price bounced at the Resistance Zone and started a strong downside move after that.
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🔸It has broken the Ascending Trendline.
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🔸We consider that this pair has bearish potential towards the Support Zone in the short term.
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🔸 Will look for a lower timeframe bearish setup.
GBP/CAD Expecting a Bearish Move🔸 DAILY CHART EXPLANATION:
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🔸Price bounced at the Resistance Zone and started a strong downside move after that.
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🔸It has broken the Ascending Trendline.
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🔸We consider that this pair has bearish potential towards the Major Support Zone in the long term, however, we need to be careful with the middle Support Zones in case we decide to short trade.
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🔸 Will look for a lower timeframe bearish setup.
Bearish Harmonic May Resume to Complete A Bigger Formation....I actually took this trade last week when I saw a harmonic setup while cruising the charts. This harmonic may still be respected this week.
Scaled up to the daily and saw what looks like a giant inverse head, neck, and shoulders forming. So TPS are based on both the harmonic and when the move may be complete.
BEAR TPS:
• 1.72928
• 1.71914
• 1.70498
BULL TPS:
• 1.73973
• 1.74797
• 1.76834
Trades that are still active until all bull/bears TPS hit…
EURCAD
XAUUSD
GBPJPY
GBPCAD ShortWant to see GBPCAD drop and see reaction off the .382 fib.
Retracement to stop people out shorting.
Weekly downtrend so should se good gains on a short position.
GBPCAD Price has broken below S2 early in the week This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below!
Let’s make some money together!
GBP/CAD Bullish Analysis🔸 4H CHART EXPLANATION:
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🔸Price bounced at the Ascending Trendline.
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🔸It has broken the previous lower highs of the corrective move.
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🔸We consider that it has potential to reach the Resistance Zone.
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🔸 Will look for a lower timeframe bullish setup.
GBPCAD is approaching support | 31 August 2020Price is approaching our support where we could see a bounce above this level.
GBPCAD is approaching support | 31 August 2020Price is approaching our support where we could see a bounce above this level.
GBPCAD ANALYSIS...MULTIPLE TRADE LEVELS??AFTER QUITE THE CHOPPY WEEK AND MOVEMENT IN THIS PAIR
OUR BIAS IS TO THE UPSIDE WITH SUPPORT AT 1.72500-1.73000 ZONE
HAPPY TRADING!
FX:GBPCAD
