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Gbpcadshort

GBPCAD, 4hr tf, sell Wave-3 extension waveHello my friends, Another plan for GBP crosses pairs. We got GBPCAD to trade as well for today. But i am still waiting for price to touch around 1.7200 before entering sell. I use a sell limit order for this pair because it might hit my trade when i was not watching it. As you can see this pair is bearish in my opinion. GBP is very fragile right now because there is fundamental Brexit issues. If we do an Elliott Wave count we could assume that we're now on Wave-3 extension. Inside this extension there is a good setup to trade as well. Wave-3 is not finished yet because we still got wave-iv and wave-v to complete this Wave-3. Wave-iv is on the process and might completed soon. We are going to use wave-i area as our stop loss because we're trying to use Elliott Wave rule for 4th Wave. Sell limit GBPCAD 1.7195 Stop loss 1.7255 Take profit 1.6925 (4.5R) RR ratio 1 : 4.5 Use only 1-2% risk Good luck Check my GBPAUD plan as well on the link provided below. If you find my post useful, give me a thumbs up and follow me for the next updates.
Short
by HayatoDragonFX
2
4H-Break and retest. 1H analysisHours Timeframes are all showing Bearish signals. 4H - Break and retest of the trendline. base on the location of the market i believe we could find a good setup on both 1H and 30m 1H - Market on downtrend forming a LH. we have a bearish engulfing at LH. better on waiting for another hour to see how the next candles will do to get more confirmation for a entry. Note to consider: Daily closed with a long wick which giving a sign of some buyers coming to the market. We do have good setup for our entry based on 1H. but try to keeping an eye if the market broke the resistance then close the trade by cutting loses short.
Short
by Capitalflowsam
BEARISH POTENTIAL ON GBPCAD - RETEST?Hi Guys, This week we have this move on GBPCAD on our watchlist, Price has broken bearish on the 4hr as we can see. Price met a point of resistance ( roof of price) after its previous up move and is currently strongly sitting at point of support showing further bearish potential. We should look for a potential pullback to the broken point of previous support and now resistance. And if price does retest this zone, we may see the bears dominate this move.
Short
by Malika_Analysis
3
GBPCAD short trade ideaPlan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **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. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
GBPCAD, 4hr tf, Shoulders head pattern to materializeHello my friends, Another setup for next week is GBPCAD pairs. Looks like GBP might go down a bit in the coming week as some of GBP pairs crosses making a bearish pattern. This GBPCAD clearly made a shoulders head pattern and price already broken below the neckline. We're now going to wait for a retest at 1.7350 area which the neckline of SHS pattern. Measured objective of this patern are 190 pips. I am not going to enter right away because it won't yield favorable RR ratio. Wait for price to retrace around 1.7350 and we will sell from there. That 1.7350 area not only serve as an area of confluence for resistance but also yielding a 2.5R sell setup. If price never retrace and contiue going down then we will skip this trade. Sell limit 1.7350 Stop loss 1.7420 Take profit 1.7175 (2.5R) RR ratio 1 : 2.5 Use only 1-2% risk Good luck
Short
by HayatoDragonFX