Gbpcadsetup
GBPCADeverything gets the meaning when is drawn. can u see that red B wave and look how complex corrections can become.
on the next wave down that big diagonal is the third wave and now its making 4th wave. due to the shortness of the 2nd, 4th will be longer speaking of time. (from my observing 2nd and 4th are equal or inversely proportional) so the drawn form of 4th is taken as most probable given the structure so far... all tho as it looks now and may be finished as 4th part and rush down, but those supports down will most definitely stall it there whether for a correction for more down, or i vote for daily changing trend for new structure up, cose with that last part here the weekly structure will be finished. ;) if u understand what i mean... if ur interested for low time frame set ups, lets discus it here...
GBP/CAD W1 D1 LONG 10.9.2019Technical view
On Weekly timeframe GBP/CAD has showed rejection from very important Supply area. We can see Pin bar was formed last week which we can consider as a buy signal, also we can see pin bar on daily chart. MA10 and MA20 have crossed each other on Daily chart which means there are changing in the trend in play. I will be looking for buy orders on smaller timeframes like H4 and H1 to join new uptrend. As u can see on given example area from 1.6800 to 1.6914 is next key Resistance area for GBP/CAD and there will be my TP.
Fundamental view
Monday GDP data for GBP was more better then expected which are very good numbers for Great Britan economy, and it seem Great Britan will avoid recession. So we could see recovery in GBP in further days and weeks.
GBPCAD DailyShorting opportunity with low risk, possible RR of 1:4 or higher depending on your own analysis and projection of price.
60 pip stop loss and 250 pip target minimum. Use your own trailing stop plan if this trade takes off.
Momentum and daily structure is behind this short. Price could swing up and take out the stop loss in order to grab sellers but
based on current market movement the expectation is for another drop.
GBPCAD Approaching TrendLine Resistance: Potential SELLGBPCAD is approaching Trend Line Resistance which has stopped the price multiple times.
So, traders can look to sell GBPCAD at 1.7467-1.7480 area with SL above 1.7520.
TPs can be set at 1.7400 and 1.7350 area. This is a low-risk set-up.
For real-time FREE SIGNALS, check my signature(link)at the bottom of this page.
GBPCADA lot of 4h divergence. This could play both way, but is a critical level. If impulse to the downside starts, then we could have a really big movement on Daily
GBPCAD - INTRA DAY LONG ENTEREDHey folks,
We have also entered GBPCAD long as we had a confirmed intra day 50/50 bounce.
Again we have a 1:1 RR (not the best I know) but our stoploss is very unlikely to hit as we kill the trade once price closes BELOW 13 EMA.
Let's see how this works out :)
GBPCAD Short Trading Idea (H&S - Sell The Retest)This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
GBP/CAD PRICE ACTION LONG IDEAGBP/CAD has made a double bottom (albeit imperfect) and a new high as well. Price has come back to re-test the previous high and looks likely now on the lower time frames (D, 4H) as well to push up.
Sell GBPCAD Longterm Based on H&S Chart Pattern on Weekly TFThis research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
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