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Gbpcadlong

GBP / CAD 1073558 + 0.18 % LONG IDEA * PRICE ACTION & STRUCTUREHEY EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE. NEW WEEK, NEW OPPORTUNITIES. LOOKING AT THE GBP / CAD * The PAIR has been trading in a RISING WEDGE just broke above a resistance level, retested this level somewhat now signaling continuation. - Short term the pair is currently rejecting at this structure possibly signaling continuation in momentum on the 4h chart this in a rising wedge.. - Looking for long entries on the THE POUND / CAD this week should all the rules of the formation be met. lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
Long
by PULEMokhothu
For the week of 21 Feb. GBPCAD – Bullish above 1.6990 This pair has been knocking on 1.7280 since end Dec 2021. You can see 3 failed attempts to close above that level. However, the recent (4th) attempt recently did succeed and it managed to close above that area and managed to hold its position on Fri this week. The pair now appears to be slightly bullish and, in my opinion, we will see 1.7570 over the coming 2-3 weeks. I am looking for a small pullback to the 1.7280 area and a bullish signal on either the D1 or H12/H8 chart. I will be going long if that happens with stop below the recent low /200 dma. The Russia/Ukraine crisis is ongoing and it is possible that we see some significant volatility. This is why I think, we need to have such a wide stop. Even so, if price moves as I anticipate, we can still have a 1.8-2R trade. If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications. Always use sound money and risk management in all your trades.
Long
by Trading_Vista
GBP/CAD 4HR BUY AND SELL SET UP???Hi TRADERS this is my trade set up for the GBP/CAD for the new week ahead GBP/CAD We have two scenarios a possible breakout of the very strong resistance area and if it does break out will be a nice strong move higher, next scenario we get a good rejection of the resistance level and we take a sell clean crisp charts I hope it helps if you have any questions please private message me good luck for this weeks trading please follow like and comment thanks
by Costy13
3
GBPCAD | Important LevelGBPCAD has approached to important level after bouncing from 0.5 fib level. Two senario can play form here; a) Bullish: It is looking in good momentum after bouncing from fib level 0.5. It will likely to break the overhead resistance. One can take long position on break of horizontal area. b) Bearish: Last time price hit from the same zone and took correction of around 300 pips. If it gives bearish sign then one must look to short it. Trade your levels accordingly.
by JustTradeSignals
1
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.
by HayeTrading
18