GbpcadI talked about Gbpcad and I posted it on my profile and i hv been on the trade for days and it's going well
CADGBP trade ideas
Buy GBP/CAD Double BottomThe GBP/CAD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Double Bottom Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade:
Entry: Consider Entering A Long Position Above The Broken Trendline Of The Double Bottom After Confirmation. Ideally, This Would Be Around 1.7433.
Target Levels:
1st Resistance – 1.7520
2nd Resistance – 1.7573
Stop-Loss: To manage risk, place a stop-loss order below 1.7395. This helps limit potential losses if the price falls back unexpectedly.
Thank you.
GBPCAD Post Long / New Short Trade PlansGBP rallied VS CAD on sentiment bias supporting a weaker Canadian Dollar.
Inflation data coming in lower will likely support the case for a further retracement now.
1. Weak tech bias for long (rejection occurring now, ideal for shorts).
2. Sentiment bias for GBP shorts (unless inflation changes this).
Short directional bias, scaling in higher if necessary. Looking for longer retracement via fibs/ma's.
GBPCAD BUYConfluences
- overall trend in daily tf is bullish 🐂
- previous resistance turned support level
- bullish engulfing candlestick pattern in the h4 tf
- we can also say, 3rd touch on the trend line because that's not a proper break
Apply proper risk management and risk wisely to trade another day.
If you found this helpful. Let me know so that I'll continue doing more on my profile here on trading view
GBPCAD 18/06/2024Weekly:
-Bullish M pattern.
-IC.
Daily:
-Inverse H&S pattern.
-M formation.
-IC acting as magnet.
4H:
-Inverse H&S pattern.
-FVG.
GBP CAD Long Set upLooks like a reversal on 1H TF. I will long it on break of 1.74527. Buy stop / Entry at 1.74527. Good Luck.
Entry 1.74527
Stoploss 1.74079
TP-1 1.74980
TP-2 1.75420
#Trading #Technical #Crypto #Stocks #commodities
Trade idea - GBPCAD Long4H
Bullish impulse / break of last LH: indication .
Inverse Head & Shoulders pattern: confirmation.
Clear support & resistance zone is there.
Corrective approach towards entry zone.
More clear from a 1H perspective. -68 Fibonacci completion also aligning with entry zone.
= Buy limit.
1% risk.
GBP/CAD SENDS CLEAR BULLISH SIGNALS|LONG
Hello,Friends!
GBP/CAD pair is in the downtrend because previous week’s candle is red, while the price is clearly falling on the 9H timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 1.748 because the pair oversold due to its proximity to the lower BB band and a bullish correction is likely.
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Bullish continuationBased on HTF bullish cont. idea exp of bullish cont. from the area of newly formed 4hr demand zone. Execution should be done only if LTF confirms the overall bias.
GBPCADThe GBPCAD pair has shifted to a bearish trend on the 4-hour timeframe following the completion of the Elliott Wave 12345 pattern and a breakout below the ascending trendline. Currently, the pair is expected to undergo an ABC corrective wave. Enter a sell position after the correction reaches approximately 61% completion of the retracement.
Heading into 50% Fibonacci resistance?GBP/CAD is rising towards a resistance level which is an overlap resistance which aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.75140
Why we like it:
There is an overlap resistance level which lines up with the 50% Fibonacci retracement.
Stop loss: 1.75979
Why we like it:
There is a pullback resistance level.
Take profit: 1.73398
Why we like it:
There is a pullback support level.
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GBPCADI'm still waiting that this pair moves up.
But friday and time 17h, london. So, this trade should be for next week.
We'll check ir again on monday.
Thks.
Blessings.
GBPCAD: Bullish Continuation & Long Signal
GBPCAD
- Classic bullish setup
- Our team expects bullish continuation
SUGGESTED TRADE:
Swing Trade
Long GBPCAD
Entry Point - 1.7432
Stop Loss - 1.7385
Take Profit - 1.7499
Our Risk - 1%
Start protection of your profits from lower levels
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GBP/CADLooking from monthly ,weekly price has triggered liquidity and moving to daily price committed through a follow through leading to the break of previous structure low and close below .From just that it was clear indication for me that market is primed for selling momentum .
GBP/CADSince April 22, we have seen the price increase and the value of the pound against the Canadian dollar, after hitting 1.7600, the price changed direction and the upward trend turned into a downward trend, with the start of today's market, the pound is weakening against the canadian dollar. we have several scenarios ahead of which we are evaluating the most probable ones. The first scenario that I personally prefer: the price returns to the area between 1.7500 and 1.7600 and forms a double bottom in the area of 1.7600, then we can look for a suitable price to enter the short in the same area. The second scenario: expect a small correction to the 1.7450 -1.7470 area, then the short trade can be considered probable, and the two Fibonacci areas of 61 and 50% will be the price targets for the second scenario.
GBPCAD - SELL
Tricky one GBP is fundamentally stronger than the CAD
4 weeks scores
7, 7,10,10
But never seen a Return to Previous Level Pattern this far into the Play and not complete.
Usually they have past point of Control and drop quite fast but I guess it is the 4 Hr tf
85 pip move
Lets see : )
GBPCADThis price action is likely to continue forming new highs, I therefore trust this doesn't break the previous LH and that the zone push the price upside.
GBP/CAD Bearish Drop from Strong Resistance - Trade OptionsGBP/CAD has experienced a bearish drop from a strong resistance level on higher time frames and is expected to continue its bearish trend. We have two options for entering a trade:
Enter at the current market price (CMP), setting a stop loss (SL) just above the resistance level where the market turned bearish. Aim for a take profit (TP) at a 1:1 risk-reward ratio.
Use Fibonacci retracement levels and wait for the market to pull back to the 0.786 or 0.618 level. If the market shows any bearish evidence at these levels, enter the trade and ride the bearish trend until TP3.
GbpcadGbpcad broke a zone in the 1 day time frame so we have the pull back as expected do we expect price to move up
GBP/CAD BEST PLACE TO SELL FROM|SHORT
Hello,Friends!
GBP-CAD uptrend evident from the last 1W green candle makes short trades more risky, but the current set-up targeting 1.732 area still presents a good opportunity for us to sell the pair because the resistance line is nearby and the BB upper band is close which indicates the overbought state of the GBP/CAD pair.
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GBP-CAD Swing Short! Sell!
Hello,Traders!
GBP-CAD will soon hit
A horizontal resistance
Of 1.7630 from where
I will be expecting
A local bearish reaction
Sell!
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