GBPCAD BULLISH!!!GBP/CAD has broken the wedge that i had analysed on my last idea and is heading towards a resistance. It is currently overbought so possible drop back down and pull back to resistance. Possible short and long entries.
Gbpcadlong
GBPCAD reversed from resistance, potential drop!
GBPCAD reversed off its resistance at 1.71304 where it could potentially drop further to 1.69500.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
GBPCAD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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GWBFX
GBPCAD expecting a bullish leg to complete a 5 motive wave on this chart.
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GBPCAD approaching support, potential for a further rise!
GBPCAD approaching support at 1.70751 where it could potentially rise further to 1.71571.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
GBP/CAD : Strong Bulllish Engulfing Pattern We can see upside movemnt as per candlestick chart pattern,
Looking Very strong momentum for the upside.
ThankYou
GBPCAD TRADE IDEAGBPCAD - Downward channel here. Looking like we may see some form of rejection around the upper channel trend line. Lines up well with the resistance level and double top. As mentioned on the note, we will need to wait for rejection at our targeted zone.
GbpCad outlookGbpCad reversed yesterday and has formed a nice long-tailed Pin Bar in horizontal support on "the mean".
As long as the pair stays above 1.7 the are good chases for a new leg up that can exceed 1.72 resistance
GBP/CAD up rally then a short at the 50 Fib daily retracement.The overall market in the weekly has been ranging there for a recent rejection has occurred in the weekly resistance and there's a high chance price will come back down the the weekly support. The daily chart has been respecting the 50 FIB retracements towards the down trend. Price appears to be aiming for the golden zone .5 or .6 of the FIB around so we are expecting an up rally before the trend breaks and we short again.
GBPCAD Buy Setup for Swing Trade.GBPCAD Buy Setup for Swing Trade.
Please manage your risk. Use Stop loss. And do not take blind entries.
If you have a question let me know. If you want to analyze any pair let me know.
This is just an idea. What we see.
The Market can go in the opposite direction, what we analyze. So we have to manage our risk and adopt the situation accordingly.
GBPCAD could be one of the year operations!GBPCAD is now in a really interesting stage, we need the retest of the simetric triangle before the big raise so we will be waiting for it, today or tomorrow, could be the day of the operation so be focused on this pair.
Good luck on this week traders, hope that you have a succesful week and really good trades!
Possible Long on Monday Confluences:
- Possible 3rd touch of bullish trendline
- Area of resistance could offer support
- Area of possible support falls around the 0.618 Fib level
- Possible touch of the 50 EMA
I'm fairly confident that this trade will come off but it is worth noting that price was recently heavily over bought according to the RSI
I will be waiting for price to retrace to around the 0.618 Fib level and looking for some kind of confirmation before entering to go long
Always use correct risk management
GBPCAD and Buy Area (9/7/2020)Buy limit
1.69905
SL at 1.69445
TP1 at 1.70230
TP2 at 1.70470
TP3 at 1.70830
Note!
Cancel/pending plan few minutes before news! (Medium/high impact news)
Disclaimer
The content on this analysis is subject to change at any time without notice, and is not provided for assisting traders to make decision.
GBPCAD D1 demand long COT report on GBPCAD: 20K net long non-commercial traders -18K net short commercial traders
supporting our long scenario for the moment.
GBPCAD - 4H Double Bottom Long!GBPCAD - 4H Double Bottom Long! Price has formed a double bottom on the 4H timeframe and then broke the bearish trend line through previous resistance. Price has now retested this zone and I have therefor taken a long trade with a great R:R of 1:6. Time will tell if this pair can push to my TP of 260+ pips.
