Get started

GBPCAD

7 Dimension Analysis For GBPCAD 😇7 Dimension Analysis - Bullish Setup on GBP/CAD Analysis Time Frame: Daily 1: Price Structure: The market is currently exhibiting a bullish price structure, characterized by an initial Behavior of BoS (Breakout of Support). The move is impulsive, and the inducement is completed with liquidity swept internally. This is the 1st pullback in the bullish move, and the extreme order block (OB) remains unmitigated. Strong bullish momentum is evident around the demand area. 2: Patterns: 🟢TREND LINES: A horizontal support line is observed, acting as a key level of support. 🟢CHART PATTERNS: A double top pattern with an impulsive breakout and heavy volume is in place. A rectangle pattern has also broken out, with the previous resistance now becoming support. A V-shaped swing indicates a rapid recovery. 🟢CANDLE PATTERNS: A key reversal pattern has formed, signaling a potential trend reversal. A record session count of 4 candles is observed, indicating strong bullish momentum. A change in guard pattern has appeared. Momentum has failed to sustain a clear direction. 3: Volume: Volume on the breakout was not significant, but after the breakout, big volume appeared as a follow-up. Volume during the correction phase is average. 4: Momentum UNCONVENTIONAL Rsi: 🟢The Unconventional RSI is currently in a sideways zone. 🟢Divergence is evident. 🟢Confirmation is needed for a breakout above the 60 level or resistance. 5: Volatility measure Bollinger bands: 🟢Prices are taking support at the middle band, indicating its significance as a support/resistance level. 🟢A squeeze breakout occurred, going outside the upper band, and prices have already done a "Walking on the band" move, indicating bullish momentum. 🟢A headfake pattern is clearly visible at the low of the previous move. 🟢Dual band derivation suggests that confirmation may take 1 or 2 more days. 6: Strength ADX: The ADX is in a "kiss and cross" position, but the main line is above 20, indicating that bulls are still in strength. 7: Sentiment ROC: The rate of change for GBP against CAD is positive, indicating GBP strength. ✔️ Entry Time Frame: H1 ✅ Entry TF Structure: The current structure is bearish, but as 4 pullbacks are already counted, there is a high chance that the price can change structure. It is advisable to enter once the choch is done, as the low is already confirmed. ☑️ Entry Move: Impulsive ✔ Support Resistance Base: Trend line now acts as support. ➕ FIB: Activated ↕️ Trend Line Breakout: Broken. ☑️ Final Comments: Consider buying. 💡 Decision: Buy. 🚀 Entry: 1.7040 (1st option), 1.6860 (2nd option). ✋ Stop Loss: 1.6795 🎯 Take Profit: 1.7637 😊 Risk to Reward Ratio: 1:11 🕛 Expected Duration: 30 days.
Long
by Optimum369
GBPCAD Bullish forecasting the pathGBPCAD is giving us short term red recovery against the 1.6931 high. Correction is unfolding as Elliott Wave Zig Zag Pattern with (a)(b)(c) blue inner labeling. So far rally from the lows looks like 5 waves, so we expect to see another 5 waves up in (c) blue leg. Target area is marked as a Blue Box : 1.6729-1.6792 on the chart and that is our selling zone. At the marked area buyers should be ideally taking profits and sellers can appear again. Consequently, we expect to see reaction from that zone. The pair can make either decline toward new lows or larger 3 waves pull back at least. Once pull back reaches 50 Fibs against the (b) blue low, we will make short position risk free ( put SL at BE) and take partial profits. Break of 1.618 fib extension: 1.6792 would invalidated the trade. Pound to Canadian Dollar forecast by day. Date Weekday Min Max Rate 10/07 Monday 1.678 1.730 1.704 11/07 Tuesday 1.693 1.745 1.719 12/07 Wednesday 1.700 1.752 1.726 13/07 Thursday 1.699 1.751 1.725 14/07 Friday 1.699 1.751 1.725 17/07 Monday 1.710 1.762 1.736 18/07 Tuesday 1.706 1.758 1.732 19/07 Wednesday 1.699 1.751 1.725 20/07 Thursday 1.709 1.761 1.735 21/07 Friday 1.705 1.757 1.731 24/07 Monday 1.705 1.757 1.731 25/07 Tuesday 1.700 1.752 1.726 26/07 Wednesday 1.691 1.743 1.717 27/07 Thursday 1.690 1.742 1.716 28/07 Friday 1.688 1.740 1.714 31/07 Monday 1.690 1.742 1.716 01/08 Tuesday 1.693 1.745 1.719 02/08 Wednesday 1.702 1.754 1.728 03/08 Thursday 1.709 1.761 1.735 04/08 Friday 1.703 1.755 1.729 07/08 Monday 1.704 1.756 1.730 08/08 Tuesday 1.720 1.772 1.746 09/08 Wednesday 1.718 1.770 1.744 10/08 Thursday 1.712 1.764 1.738 It is a busy week ahead for the GBP to USD. The UK Labour Market Overview and the US CPI Report will set the tone in the first half of the week. On Wednesday, the BoE will release the Financial Stability Report ahead of the monthly GDP Report on Thursday. Weak GDP numbers and hawkish BoE bets would fuel recessionary jitters and test buyer appetite. The BRC Retail Sales Monitor (Tues), NIESR GDP Estimate (Thurs), and the RICS House Price Balance (Thurs) are also out. However, the markets will likely brush aside the housing sector data.
Long
by DaveBrascoFX
GBPCAD Will Go Higher! Buy! Take a look at our analysis for GBPCAD. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is approaching a significant support area 1.694. The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.705 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
GCAD - AO Divergence confirmed to downsideFX:GBPCAD OANDA:EURCAD FOREXCOM:GBPCAD Hello trader! I am glad to share my idea about this pair. Just remember to manage your capital while trading. No matter how perfect your trading system is, the way you mange your risk is the key to be a consistent trader. The winning trader is always a consistent trader. Weekly: Price is making higher high while AO is making lower high => Divergence => Correction to downside is expected Daily: If price correct to downside, then we have TP area at below demand/support H4: Price is making higher high while AO is making lower high => Divergence => Correction to downside is expected
Short
by Trading_Zone_3773
1