GBPCAD trade ideas
GBP/CAD BULLISH BIAS RIGHT NOW| 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 1D timeframe. And after the retest of the support line below I believe we will see a move up towards the target above at 1.806 because the pair oversold due to its proximity to the lower BB band and a bullish correction is likely.
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GBPCAD – trading the range within an uptrend.. week of 18 NovTwo touches on either side constitutes a range and we see that in GBPCAD. The preceding move was bullish, but we have been in a range since late Sep. Price has been comfortably above the 200dma and this gives me a bullish bias. Current price at the bottom of the range is where a long trade makes most sense. If this works out as I anticipate, we should have a +3R trade.
I will add that I like the look of this chart, recent moves are strong and decisive. Note also how the small bullish candles last week had relatively good volumes, while the larger bearish candles had relatively low volumes. Could the bulls possibly be taking over this market?
This is not a trade recommendation, it is merely my own analysis. If you decide to trade this, you should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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GBPCAD Will Go Higher! Long!
Take a look at our analysis for GBPCAD.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a significant support area 1.776.
The underlined horizontal cluster clearly indicates a highly probable bullish movement with target 1.792 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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GBPCAD - BULLISH TRADEPrice has started moving in advancing phase with bullish divergence further indicating continuation of advancing phase.
Ascending triangle is also formed which is a bullish continuation pattern.
Entry will be at the breakout of Higher high.
At this point, buyers will remain in control.
Stop loss is below Higher low.
GBPCAD possible movement. Wait for the price to tap in our last demand zone followed by the imbalance then enter with the buys
GBPCAD RE TESTINGThe potential downtrend in the GBP/CAD currency pair may be influenced by several critical factors. The Bank of Canada's relatively hawkish monetary stance, supported by strong economic data, contrasts with the Bank of England's cautious approach due to slowing UK economic growth. Declining global oil prices could limit the downside for the Canadian dollar, as Canada is a major oil exporter. On the technical side, GBP/CAD has recently tested key support levels, and failure to hold these levels may signal further bearish momentum.
GBPCAD 4hr LongGBPCAD
✅ 4hr Long ✅
💰ENTRY: 1.77755
👎STOP LOSS: 1.78356
TP TARGETS
⏰TP1
⏰TP2
⏰TP3
✅ 1. Weekly Time Frame: Price has been breaking bullish and trending above the 10, 50, 200 EMAs.
✅ 2. Daily Time Frame: Price has been breaking bullish and trending above the 10, 50, 200 EMAs.
✅ 3. 4hr Time Frame: Price has made a valid correction into the 10 EMA.
✅ 4. Price has made a Swing Low Engulfing candle above the 50ema.
This is a great example of my systematic system.
GBPCAD: Free Trading Signal
GBPCAD
- Classic bullish setup
- Our team expects bullish continuation
SUGGESTED TRADE:
Swing Trade
Long GBPCAD
Entry Point - 1.7794
Stop Loss - 1.7739
Take Profit - 1.7928
Our Risk - 1%
Start protection of your profits from lower levels
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GBPCAD 55hrs Trading Hrs ExpectationGBPCAD 4-Hour Chart Analysis
This chart shows a potential long setup on the GBP/CAD pair. After a recent downtrend, price appears to have found support near 1.7780, forming a potential reversal zone. A bullish entry was placed, with a stop loss just below recent support at 1.7724 to manage risk. The target zone is around 1.7906, which aligns with a previous resistance level.
The risk-reward ratio for this trade suggests an opportunity for gains if the uptrend continues. Watching for price action confirmation in this zone to validate the reversal setup.
gbpcad longcad is week, so as the oil, as the oil countinues the bearish really the cad will also go down because both of these are related to each other... so after the bullish divergence on 4h we place the buy stop at the H1 lower high breakout and place our sl below the support. hope this trade will go accordingly inshallha ....
GBPCAD 1H forecastWe're in a bearish impulse sequence. We're in a wave 4 phase and expecting a wave 5 completion.
GBPCADWe have wycoff accumulation once price taps into our demand that lies in our gold zone with our fib we'll look for longs we could possibly go on a lower timeframe to get a greater RR
GBPCADTaking this intraday, pure price action..Buys for GBPCAD, I dont have alot to say about price action
GBP/CAD Targets Decline as Price Breaks Below Kumo CloudGBP/CAD is emerging a double top pattern on the daily chart following an uptrend, signaling a potential trend reversal due to waning bullish momentum. Currently, the price is descending towards the 161.8% Fibonacci level at 1.76824, which coincides with the neckline of the double top pattern and serves as a critical support area. The break of this level is essential for confirming the pattern.
Kumo Cloud Break and Ichimoku Analysis
The price has also broken below the Kumo cloud, indicating a shift to bearish conditions and reduced buying power.
If the price breaks the 161.8% Fibonacci level at 1.76824, subsequent support levels are at 1.75720 (200.0% Fibonacci) and 1.74523 (241.4% Fibonacci). Each of these levels can act as key points to assess the strength of the sellers and serve as strategic entry points for potential trade decisions.
Alternative Scenario
If the price fails to breach the 161.8% Fibonacci support and retraces upwards, it could target the resistance levels at 1.78611 (0.0% Fibonacci) and 1.79715 (61.8% Fibonacci).
Waiting on GBPCAD to see if it will hold at 0.618 FIB levelSo this may be a retest for the market to continue up, so I am waiting to see how the market will react at 0,618 Fib level, so if we hold then I will be long on GBPCAD. Let me know what you think.
GBP/CAD For Bearishyou can go show now
or
wait for entry point as pull-back and then go short
have fun :)
Heading into overlap resistance level?GBP/CAD is rising towards the resistance level which is an overlap resistance that aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 1.7859
Why we like it:
There is an overlap resistance level that lines up with the 38.2% Fibonacci retracement.
Stop loss: 1.7926
Why we like it:
There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement.
Take profit: 1.7740
Why we like it:
There is a pullback support level.
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GBPCAD buybought GC due to strength in my systems opinion. USD news coming in an hour 15:30, curious what happens next.
GBPCAD can we see higher bearish push
GBPCAD higly good price action structure, price touch trend lines 2 times, we have visible and SYMMETRICAL TRIANGL inside trend lines-zone and CHANNEL pattern is visible its be breaked today.
Currently here bearish push still expecting till next long term trend line
SUP zone: 1.80200
RES zone: 1.77600, 1.77000
GBPCAD Bearish Flag Short PositionGBPCAD Bearish Flag Short Position
1hr Bearish Flag formed Possible Short Entry if LL breaks
GBPCAD Short Term Sell IdeaH4 - Bearish trend pattern
Strong bearish momentum
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
GBPCAD possible short sccenarioWe saw a massive down candle yesterday creating a down trend.
Now we are in a consolidation area.
Possible down trend to continue, but first i see some need of liquidity which we find at 0.5-0.61 FIB area which also meet some FGV.
Wait to see if this is the way will go, and could be a nici short position from 0.61 fib
