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CANADIAN DOLLAR / BRITISH POUND

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CADGBP trade ideas

GBPCAD Fly HighBias Bullish Fundamental Analysis CAD data is weak, and GBP is holding at position. Price Action: Price break out of Daily and H4 SR level, closing at new high. Price is still extremely bullish. Taking on the fundamentals and breakout. Price is most likely to do a retracement to confluence SR level and head higher to next SR level Set up: Long trade at confluence SR Level from Daily & H4. SL is 2 ATR(20). TP at next swing high R:R 1:4 target. As trade is extremely bullish. Hence the bullish momentum is likely to push on.
Long
by royschen07
GBPCAD - In Bullish TrendGBPCAD is in bullish trend. I have plotted ABCD Bearish Reversal Harmonic on the chart on 1D time frame which this chart has complimented. Currently the chart is on its way to point D for trend reversal. There is a bearish divergence on this chart which is not that strong (2nd peak below RSI level of 70) which might put chart on sideways for a while. The sentiments for this chart is also towards Short Selling. But the indices for both the currencies (BXY & CXY) are indicating towards a Long trade (BXY is bullish and CXY is bearish). My final analysis is on 1H time frame and I have opted to go for a long trade. The Signal is: EP: 1.78024 SL: 1.77449 TP: 1.7917 (1:2) RR: 0.25% Lots: 0.05
Long
by MuhammadArif039
GBPCAD bearish CHoCHGBPCAD is poised to reverse imminently. On 1HR timeframe, strong change of character (CHoCH) to bearish trend. Pullback into the range to grab liquidity before continuing down to make a lower low. Criteria met on 15min timeframe for entry. Target next order block on the 1HR timeframe, no resistance on the way down... I can write about a bunch of smart money concepts: accumulation, inducement, traps, liquidity and order blocks. Honestly, it would just take too long. Let me just say patience is a virtue, lots of educements and a trap or two. I believe they have been mitigated and it is setting up nicely for a Tuesday reversal and continuation to the downside during London session. Lets see how she plays out. This is only my idea and not meant as financial advice.
Short
by Wynloots14
GBPCAD Possible Long Position BBM OA ReEntry Zone Zero Loss4H - Re-Entry 1H - 50 EMA Rejection + Bollinger Band Rejection 15m - Entry in MAHILO Note: * Cancel trade or cut-loss when candle close Below MAHI (2 Red Color Lines) in 4H * 1:3 RRR * TAYOR A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis
Long
by GreggiBond