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Gbpcadshort

GBPCAD H4 SHORT PRICE ACTION FORECAST The pair has been trading within a channel from a broader look (W1). Price has tested the resistance level from the structure. Now, it should move downward to complete the next leg towards the channel's support line. At H4, the price could not form a new fresh high, signaling the bearish pressure. After the current strong bearish candle, a pullback towards the recently broken support zone from the previous consolidation should be tested to trigger a short entry. The order: Type: sell-limit S/L: 77 pips - R:R | 1:2.3 - T/P: Fib level 0.5 as reversal point. -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
GBPCAD Bearish Retracement Trade Opportunity!!!Currently, we are looking at GBPCAD potential breakout of the trend line giving it a BEARISH trade opportunity to range between 61.8 fib level and 1.7258 support level. This will be an important point to note as we also see a potential breakout from middle band giving it a bearish strength to test the lower band. As of now, I will be bearish on GBPCAD and will like to see a breakout from here or else I will be looking at 1.7670 resistance level to enter a short position. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!!
Short
by YGForex
2
GBPCAD Trade Setups - Bearish Outlook⭐️Key Takeaways⭐️ ✔️ Bearish bias at this level of resistance ✔️ Canadian GDP on Friday came in better than expected. ✔️ Pound was one of the top performing currencies last week ⭐️Technical Analysis⭐️ Daily doji suggests the bulls are starting to get exhausted. 1 hour however doesn't look too aggressive towards the downside just yet which leaves me to believe we might get another test of the daily resistance before we trend lower. In terms of risk to reward, sell limits are favorable on another push back up to resistance. If daily timeframe manages to break lower that would also signal some further correction with this pair. Regards, Michael Harding RISK DISCLAIMER Information and opinions contained with this video are for educational purposes only and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors.
Short
by Michael_Harding
GBPCAD short trade ideaPlan: trendline and support level breakout --> 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
1
GBPCAD H4 SHORT PRICE ACTION FORECAST Price is currently trying to break the previous high. If it fails to breakthrough forming a new high, it will create a subtle double top pattern for a correction. A short entry can be taken to capture the downward movement towards the FIB level before the next impulse for the trend continuation. The counter-trend entry should be monitored cautiously, as the price could revert before reaching the T/P level. If everything, as forecasted, happens, it will also allow the setup of a long entry after confirmation of bullish continuation. The order: Type: sell-stop S/L: 53 pips - R:R | 1:2 - T/P: FIB level -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER