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GBPCAD trade ideas

GBP/CAD Short Setup on Pullback to Resistance LevelOverview: Currently observing a potential short opportunity on GBP/CAD as price trends downward. I’m waiting for a pullback to a key resistance level to evaluate entry conditions. Analysis: The 1-hour timeframe shows price respecting the red moving average (acting as dynamic resistance) and moving lower. I'm setting an alert at 1.7945, close to the moving average, where I anticipate potential resistance on a pullback. Entry Plan: Alert Level: 1.7945 If price approaches this level and shows signs of rejection (e.g., bearish candles, wicks, or lower highs), it would confirm a possible short entry. Stop Loss: Tight stop just above the red moving average or recent high to limit risk. Target: Targeting continuation to the downside, with an initial take profit at the recent lows around 1.7900 and possibly lower if momentum continues. Risk Management: Using a tight stop to protect against a breakout above resistance. Monitoring price action closely around the 1.7945 level to confirm entry. Disclaimer: This is not financial advice, and please ensure you use your own risk management practices when trading. Let me know your thoughts and if you see similar setups!
Short
by SamadeusM
GBPCAD BULISHor a bullish trade on GBPCAD, here’s an explanation of targeting the 61.8% Fibonacci level for take profit, or aiming for a full retracement to 1 (or 100%). 61.8% Fibonacci Level as Take Profit: When prices are moving upward and you’re looking for a take-profit zone, the 61.8% Fibonacci retracement level often serves as a strong resistance area within a retracement move. In a bullish context, if price hits the 61.8% level and shows signs of stalling, it may be an optimal spot to take profit. Many traders use this level as a key decision point because it often represents a deeper pullback where sellers might re-enter, or where the bullish move might exhaust temporarily. 100% (or "1") Retracement Level: If your outlook is more aggressively bullish, you might aim for a complete retracement back to the previous high, or 100%. This "1" level (representing the full retracement) would indicate that GBPCAD has completely reversed any previous pullback and resumed its full upward momentum. In practical terms, this can signal strong buyer control and confidence, as prices have returned to their prior highs, indicating the possibility of either consolidation at these levels or further bullish continuation.
Long
by LORDOFTHETRADERS
GBPCAD (Short)Turtle soup and Smart Money Concept Trading Strategy The Turtle Soup strategy, however, flips the script, aiming to profit when those anticipated trend. Linda Raschke’s Turtle Soup strategy is a counter-trend trading approach that capitalizes on failed breakouts. ENTRY :- SELL -Above opening price (daily) BUY - Below opening price (daily) STOPLOSS :- above or below recent swing High 1st TARGET :- Book profit 50% 2nd TARGET :- Book profit 25% 3rd TARGET :- Book profit 25% Consisitency and hard working is the key of success. KEY OF SUCCESS :- *) Buy below opening price of Daily Candle AND Sell above opening price of Daily Candle. *) Do not take risk more than 1% of Equity. *) Take Profite Should be More then 2% of Equity . *) Book 50% profit of running trade first and remaining 50% hold for long term. *) DO not hold lose / Nagative trade for Long Term.
Short
by FTS_2528
GBPCAD is in the bearish directionHello Traders In This Chart nzdcad HOURLY Forex Forecast By FOREX PLANET today GBPCAD analysis 👆 🟢This Chart includes_ (GBPCAD market update) 🟢What is The Next Opportunity on GBPCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This CHART is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Chart
Long
by ForexMasters2000
1
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.
Short
by DNP-FX