GBPCAD trade ideas
GBPCAD : Short Trade , 1hHello traders, we want to check the GBPCAD chart. The price is in a descending channel and has pulled back to the specified resistance level. We expect this level to maintain the downward trend of the price and the price will fall to around 1.70500. Good luck.
Heading into pullback resistance, could it drop from here?GBP/CAD is rising towards a resistance level which is a pullback resistance and could reverse from this level to our take profit.
Entry: 1.72217
Why we like it:
There is a pullback resistance level.
Stop loss: 1.72899
Why we like it:
There is a pullback resistance level which aligns with the 161.8% Fibonacci extension.
Take profit: 1.71179
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bullish Gartley PatternWe have observed completion of XA, AB and possibly BC limb as well. We have yet to wait for CD limb to complete. Price may go up at PRZ, which will be a potential buy opportunity.
hands downAll ideas are strictly my interpretation of price action. I am not a professional trader nor is this
professional advice.
I will continually update all trades.
GBPCAD
It seems like GBP/CAD is gearing up for a bullish move, supported by a bullish flag pattern formation and completion of a 38% retracement. With the breakout from the bullish flag, there's potential for a continuation of the upward trend. Traders may consider entering long positions to capitalize on this anticipated bullish momentum.
Little bit early but we're going longYou can wait until it leaves the triangle, but I entered.
This is my opinion and it may be 100% wrong
GBPCAD-BEARISH-4H-CONTINUATION GBP/CAD Analysis
1. **Bearish/Bullish Analysis:**
- **Scorecard 3:** Indicates a bearish sentiment for GBP, bullish for CAD, resulting in a bearish outlook for GBPCAD. This could suggest weakness in the Pound against the Canadian Dollar.
- **COT-Flip:** The Commitment of Traders (COT) report suggests a shift in sentiment from bullish to bearish for GBP and from bearish to bullish for CAD, aligning with the Scorecard's conclusion of a bearish GBPCAD outlook.
- **Seasonal Analysis:** Seasonal trends show a bearish bias for GBP, and neutral for CAD, further supporting the bearish outlook for GBPCAD.
2. **Commodity Analysis:**
- Commodity analysis indicates a bearish sentiment, which could imply that macroeconomic factors or global commodity trends influence the GBP/CAD pair negatively.
3. **Conditional Analysis:**
- Conditional factors show a mix, with a bullish bias for both GBP and CAD, resulting in a neutral stance on GBPCAD. This suggests that certain conditional factors may not strongly influence the pair's direction.
4. **Fundamentals:**
- Leading Economic Index (LEI), Endogenous (ENDO), and Exogenous (EXO) fundamental analyses collectively point towards a bearish sentiment for GBP and a bullish sentiment for CAD. This reinforces the overall bearish outlook for GBPCAD.
### Technical Analysis:
1. **Trend:**
- The overall trend analysis indicates a bearish trend for GBP/CAD, suggesting that the pair is experiencing downward price movement.
2. **Continuation Patterns:**
- Continuation patterns are bearish, implying that the current downtrend in GBP/CAD is likely to persist.
Overall Interpretation:
The analysis of the scorecard and technical indicators suggests a predominantly bearish outlook for GBP/CAD for the second week of May. Fundamental factors such as the leading economic index and market sentiment indicators align with technical indicators, reinforcing the bearish sentiment. Traders and investors may consider this information when making decisions regarding GBP/CAD positions, keeping in mind both short-term and long-term trading strategies.
GBPCADLately on GBPCAD price has filled and closed above both the Daily fair value gap and the Daily inverse fair value gap and we are now waiting for the distribution to the upside to take out those failed highs + BUYSIDE liquidity
GBPCADThis Weekly FORECAST
Opportunity for GBPCAD. This setup trading idea is for swing. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
GBPCAD OUTLOOK (13-17)-MAY 24GBPCAD is Bearish on HTF.
Well this is one of the pairs that gets my sugar level up, but still love to trade and analyze it.
There's nothing much i can say but that i am currently tagged into shorts to this pair and i am looking forward to see how it plays out.
Detailed analysis is highlighted on the charts:
What are your thoughts?
GBPCAD: Bullish Continuation
Our strategy, polished by years of trial and error has helped us identify what seems to be a great trading opportunity and we are here to share it with you as the time is ripe for us to buy GBPCAD.
❤️ Please, support our work with like & comment! ❤️
GBPCAD: Your Trading Plan For Next Week 🇬🇧🇨🇦
GBPCAD formed an inverted cup & handle formation on a daily time frame
after a test of a key horizontal daily resistance.
To sell the market with a confirmation, I will look for a bearish
breakout of its neckline.
Daily candle close below 1.7087 will confirm a violation,
a bearish continuation will be anticipated at least to 1.7015 support then.
❤️Please, support my work with like, thank you!❤️
GBPCAD: Time to Sell?!The GBPCAD is about to retest a broken horizontal support level, which is now likely acting as resistance following a breakout.
To confirm a bearish trend, I have observed a horizontal range on the 4-hour chart and a bearish breach of its support level.
I anticipate that the price will decrease to around 1.7043 or 1.7000 in the near future.
GBP/CAD Forecast: Historical Trends and Institutional Sentiment The Pound Sterling's recovery has encountered a standstill amidst robust speculation regarding early rate cuts by the Bank of England (BoE). Concurrently, the GBP/CAD pair, after establishing a bottom within its channel around 1.68880, initiated a pronounced bullish surge, propelled by a convergence of technical and seasonal indicators. Technically, the price nears the 61.8% Fibonacci retracement level from the previous swing high, compounded by the presence of the volume point of control. In light of these factors, we have established two limit orders within this zone. Furthermore, there exists the potential for price rejection at the dynamic trendline within the bearish channel, in addition to the VWAP 200 periods. Historically and statistically, the GBP/CAD tends to exhibit a bearish trend during this period of the year. The latest Commitments of Traders (COT) report indicates a decline or negative sentiment among institutional orders, further suggesting a looming price drop.
GBPCAD - BUY
Aggressive Entry
Return to Previous Level Pattern
Unemployment Rate etc all better than Expected
Hence Positive CAD push Down
But now more often than not the Retrace
Over Extended on the FT MLA Bands MT4
RSi's heading up on the 1 m need to get in early.
3 MIN BISILookin for this 3 min bisi to take price to buyside. Confluence with 61.8 of the dealing range. Turtle souped right into said fvg
Buy GBP/CAD UK GDPThe GBP/CAD pair on the M30 timeframe presents a potential buying opportunity due to a recent upward breakout from a well-defined bullish channel pattern. This breakout suggests a shift in momentum towards the upside and a higher likelihood of further price gains in the coming hours.
Key Points:
Buy Entry: Consider entering a long position (buying GBP/CAD) above the broken resistance level of the channel, ideally around 1.7120 after confirmation of the breakout. This offers an entry point close to the perceived shift in momentum.
Target Levels: Initial bullish targets lie at the following points, based on the channel and recent price movement:
1.7181: This target is obtained by measuring the height of the channel (from the base to the breakout point) and adding that distance to the breakout price.
1.7215: This is a further extension of the upside target, based on roughly twice the height of the recent price movement before the breakout.
Stop-Loss: To manage risk, place a stop-loss order below the broken resistance line of the channel, ideally with some buffer around 1.7105. This helps limit potential losses if the price unexpectedly reverses and breaks back downwards.
Thank you.
GBPCAD @ BUYING, Inverse H&S Pattern Formed.. (READ CAPTIONS)📈🚀 GBPCAD Market Update: Preparing for Bullish Breakout! 🎯💼
Forex Traders, exciting news on GBPCAD:
OANDA:GBPCAD
🔄 Inverse Head and Shoulders Formation: GBPCAD has developed an inverse head and shoulders pattern at the bottom of its downtrend, signaling a potential bullish reversal.
📈 Current Status: The pair is currently forming the right shoulder. A breakout above the neckline is our trigger to activate trades, positioning us for a strong upward move.
🎯 Golden Crossover: A golden crossover of the 200EMA and 50EMA has already occurred, strengthening the bullish setup.
📉 Retracement at 50EMA: GBPCAD is retracing to the 50EMA, which can serve as a dynamic support, enhancing the bullish sentiment.
📊 Volume Increase on the Buy Side : Increasing volume on the buying side as the market approaches the neckline suggests growing interest and momentum in the potential breakout.
🎯 Technical Target: Upon a successful breakout, our trade will aim for a technical target at 1.7520.
📈 Trading Strategy: Watch closely for the neckline breakout to confirm entry. Maintain vigilant monitoring of the trade progression and manage your positions with appropriate risk strategies.
Let's stay alert and prepared to capitalize on this promising setup as GBPCAD gears up to challenge higher levels. Here's to a potentially profitable trade ahead! 🌟📊 #GBPCAD #ForexUpdate #BullishReversal
GBPCAD Sell IdeaOANDA:GBPCAD has been in bearish trend. Recently, It broke the last low with great selling momentum. It has been retracing back to fib 50-75% discounted levels where we can look for selling opportunities up to recent low.
GBP/CAD pair to buyThe presence of an ascending trend line on the daily frame
There is divergence on the Relative Strength Index (RSI).
The presence of areas of strong demand
The presence of a harmonic model supports purchasing
GBPCAD short did not get filled in but level getting respected GBPCAD short did not get filled in but level getting respected
