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Gbpcadlong

GBPCAD expecting some bullish sentiment on 1.70000GBPCAD has been on a massive downtrend after retesting 1.75000 since 20th september to 1.69000, this level might bring some bullish sentiment as it finds support around this level from the weekly timeframe. the bulls push breaking 1.70000 with a strong bullish momentum, therefore am expecting a retrace then continue till 1.72500. Confirmation is waiting for a reversal candlestick pattern on 1.70000, then a break of the recent support turn resistance created. kindly drop your suggestions in the comment box.
Long
by lilsheggwen
SwingTradingIdea(GBPCAD)(Long)GBPCAD has a beautiful channel on daily, and we reached the support area, there is Bullish engulfing candle on daily time frame, And I decided to go long with stop loss 1 ATR below the previous candles low, I am aware that we still did not reached the stronger support line but I am willing to risk 1 percent on this beautiful Bullish candle. Also Stochastic(14,3,3) has a buy signal for me. On weekly Stochastic is at oversold area I can hope for a buy signal on the weeks ahead(But It might not happen, who knows!). Also this trade has some juicy risk to reward ratio :) , If this trade fails I will be looking for another buy setup maybe at lower stronger support. Always manage risk or risk will manage you :) Take care stay profitable!
Long
by ChillaxTrading
GBPCAD 500 PIP BUY!Hi guys! This is one of those trades that either works beautifully or not at all. Look for a double bottom for evidence of reversal, with a tight stop loss below the major structure. I have made multiple take-profit levels so that we can keep them as safe as possible. A small profit is still profit. Good luck and trade safe! Please remember to like, follow, comment, and share my ideas - I put a lot of effort into providing this for free and would really appreciate it. Good luck, Trade safe. DrBear
Long
by DrBear
2
GBPCAD analysisWe have had a good period of bearish momentum. Price is currently in a correction phase. Using the trendline rules of entry, a buy position should be actively running, but because I saw signs of a pennant forming, I had to wait. The pennant has clearly formed. This chart pattern is neutral and price can go either way, which invalidates entries solely based on the trendline strategy. First/ minimum TP target should be the length of the pennant's back. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Exercise proper risk management and be patient. #TradeLikeMagnatrio
by Magnatrio
GBPCAD: Flow into ReversalThis is a lower timeframe description of how we can approach this pair in relation to my last related idea. Please ensure you understand our daily outlook before you proceed with this idea. I will be looking to clear the minor resistance before bouncing from the demand region down into our area of interest to buy from. Leave a comment and/or message us on how we can improve and provide better content, we are open to suggestions to create a better experience for you! Keep in mind that the analysis provided is not 100% accurate and that you can never be certain of the markets. This information given is not financial advice, always do your own research. Thank you for reading, Cheers to many pips!
by AlkalineFX
4
GBPCAD: Reversal PointThis pair gave a clear sell-off signal at the resistance point. If you understand order collection and liquidity you should have been able to ride this wave down without an issue. This leads us to our next question, where is the reversal point? Similar to the price action found at the resistance, we can expect this at the support region. I have illustrated the potential liquidity grab before we see retracements on the bearish move. Leave a comment and/or message us on how we can improve and provide better content, we are open to suggestions to create a better experience for you! Keep in mind that the analysis provided is not 100% accurate and that you can never be certain of the markets. This information given is not financial advice, always do your own research. Thank you for reading, Cheers to many pips!
Short
by AlkalineFX
7