Smart money coceptI get my second entry in GBPCAD.
and i took it for the following confirmations:
1.the 1h ,15m,and 5m downtrend.
2. 3m liquidity and manipulation.
3.the counter trend in 3m.
4.the supply zone in 15m
CADGBP trade ideas
GBP/CAD D1: Potential Breakout from Rising Wedge with Double TopOn the daily chart of GBP/CAD, I’ve identified a Rising Wedge pattern with a Double Top formation within it, signaling a strong potential for a significant bearish movement. A similar pattern previously occurred on September 9, 2023, when a bearish breakout from the Rising Wedge was confirmed by a double top, followed by a sharp downtrend.
Currently, the same pattern has reappeared, with the price forming the second peak of the double top, but a breakout confirmation is still pending. The next price movement is illustrated by blue arrows, indicating the expected downward direction if a breakout occurs. Additionally, the breakout area is marked with a red rectangle to clarify the critical support level that needs to be breached, while the double top’s peak is highlighted with an orange circle to emphasize this key pattern level.
The strategy plan here is to wait for a breakout below the Rising Wedge support line to open a sell position. The profit target is set at the 1.7310 level, with a stop loss placed above the double top level, around 1.8200. If a breakout confirmation occurs, the bearish movement is expected to drive the price closer to the set profit target.
**GBP/CAD 1-Hour Forecast: Dynamic Movement Ahead**🔄 **GBP/CAD 1-Hour Forecast: Dynamic Movement Ahead** 📈📉
GBP/CAD is currently at **1.80301**, and we’re watching for an initial move up to break the **1.80709** level. If it reverses there, a dip could follow, breaking **1.79976** and reaching down to **1.78423**.
💡 **Key Levels to Watch:**
- **Current Price:** 1.80301
- **Resistance Break & Pullback:** 1.80709
- **Support Break:** 1.79976
- **Bearish Target Zone:** 1.78423
🚀 **Longer-Term Outlook:** After touching **1.78423**, we anticipate a bullish reversal targeting **1.80709** and a potential push up to **1.81419**.
👉 How do you see GBP/CAD moving in the short term? Comment below with your insights!
#GBPCAD #ForexAnalysis #PricePrediction #1HrChart #Pipnest
Smart money concept GBPCAD i think is going down considering:
1.the 1H downtrend
2.the liquidity and manipulation in 5M
3.the counter trend in 5M
4.the supply zone in 1h
gbpcad
GBPCAD is in a bullish continuation, targeting the previous high's liquidity. It’s expected to react at the 1-hour order block, aligning with the 50% Fibonacci retracement level. This zone could either propel the price higher if buying pressure continues or face resistance from sellers re-entering.
GBPCAD: Consolidation and Bearish TrendGBPCAD is currently moving sideways within a broad horizontal range.
After testing resistance, a head and shoulders pattern has appeared on the price chart.
I expect the consolidation to continue, potentially resulting in a decline toward the support level of the range. My target is 1.7909.
GBPCAD: Consolidation & Bearish MovementGBPCAD is currently trading sideways in a broad horizontal range.
Following a resistance test, a head and shoulders pattern was formed in the price chart.
I anticipate that consolidation will persist, leading to a potential decline towards the range's support level. My target is set at 1.7913.
We had a deep retest in GBPCAD and we may continue up today The market pushed to the up side for 3 day without a significant retest, and on Thursday we had a deep retest and I we saw a reaction at 1.78815, I am targeting 1.81902.
SELL GBPCAD for bullish trend reversal STOP LOSS : 1.8148SELL GBPCAD for bullish trend reversal
STOP LOSS : 1.8148
Regular Bearish Divergence
In case of Regular Bearish Divergence:
* The Indicator shows Lower Highs
* Actual Market Price shows Higher Highs
We can see a strong divergence on the MACD already and There is a strong trend reversal on the daily time frame chart.....
The daily time frame is showing strength of trend reversal from this level resistance so we are looking for the trend reversal and correction push from here .....
TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything
Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
Scenario GBPCADInteresting formation, maybe it's a double top, I'll wait for the breakthrough of the trend line and then try a short position
GBPCAD TFGBPCAD BUY
The market trend is bullish on the daily chart. A new high was made on October 29, and today, the market is retesting the last resistance, which we now consider as support.
1 Hour:
The market has formed a double bottom trading pattern, and its neckline has broken to the upside. We will take a trade on the retest.
ENTRY 1.80246
SL 1.8000
TP 1.8045 & 1.8105
GBPCAD, Triple Top, Strong Resistance with Bearish divergenceTrading @ strong Resistance Zone
Triple Top Formation
Bearish Divergence
Short @ CMP
SL above triple top
TP 1.78465
1:2 Risk to Reward
Long On GBPCADGoing Long on GBPCAD early in the week. The pair looks set to continue higher and put further gains on the table.
Entry: 1.8000
Targets: 1.8148 & 1.8294
Stops: 1.7859
Risk to Reward is 1:2
#GBPCAD #Tradesetup #Long
GBPCAD= SellPrice has completed a 5 wave structure, making a contracting flat in between. We are also seeing a reaction at the Daily supply zone which seems to be holding thus far.
Either the price will reverse at the trendline to continue to the upside or we have a nice break to the downside. Time shall tell.
Lets see how this one goes.
14-10-2024 _ Short Term Bullish Idea _ EURCAD H41. Price is moving in a Rising Channel.
2. Price is above 200 Moving Average.
3. Strong impulse to the Upside breaking last LH resulting in Convergence.
4. Pullback expected to the support zones followed by continuation to the Upside. Actively look for BUY Setups.
5. 180 - 225 pips move expected.
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GBP-CAD Local Short! Sell!
Hello,Traders!
GBP-CAD went up sharply
And hit a horizontal resistance
Level of 1.8143 and as the
Pair is locally overbought
We will be expecting a local
Bearish correction
Sell!
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GBPCAD bullish in the long termIn the short term GBPCAD is a Short Opportunity if a pullback from the resistance zone around 1.8120, especially if MACD divergence or a bearish crossover occurs and ADX weakens. In this scenario, the support near 1.8000 could be the initial target for a short-term correction down till 1.7800 near major support channel.
GBPCAD bullish in the long termIn the short term GBPCAD is a Short Opportunity if a pullback from the resistance zone around 1.8120, especially if MACD divergence or a bearish crossover occurs and ADX weakens. In this scenario, the support near 1.8000 could be the initial target for a short-term correction down till 1.7800 near major support channel.
