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British Pound / Canadian Dollar

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GBPCAD trade ideas

GBPCAD I Potential long from bottom of the channel Welcome back! Let me know your thoughts in the comments! ** GBPCAD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
Long
by BKTradingAcademy
#009 DCA GBPCAD SellI am now entering on the 4H Time Frame. Giving my trades more space. Previously, I placed several Limit Orders, but now, I decided to place less, because I have more space for price to run now. And also, I think that if price goes against me and enters into a drawdown or triggers my other Limit Orders, I should seek to exit for a Breakeven, instead of hoping to make a profit. Breaking even is possible by exiting at the halfway mark between my first position and my last position. Meaning, If I have 3 positions opened, and price is currently at the breakeven price of my 2nd position, I am currently breakeven for all trades because, 1st - -10cents loss 2nd - Breakeven 3rd - 10cents profit which equates to a breakeven. The amount of position is not a problem. As long as price is at the middle of all your positions, you could exit all of the positions and be on an average breakeven (might be in slight loss, or slight profit which all eventually evens out in the long run as you continue trading). 1st - 100$ loss ... 50th - Breakeven ... 100th - 100$ profit Exit at the 50th position and all your trades would be breakeven (excluding the commission. 100 trades would rack up a lot of commission.) Too many thinking. I wanna go do some delivery orders but I feel a blur. 0956SGT 22112024
Short
by ProfessionalDuckHunter
Trading Idea: GBPCAD 1D - Bearish Continuation SetupIn this GBPCAD daily chart analysis, the market structure suggests a bearish continuation setup based on ICT (Inner Circle Trader) concepts. The price has shown signs of rejection at key levels, and we expect further downside as liquidity gets taken out. Here's the detailed breakdown: Market Structure and CHOCH The chart shows a Change of Character (CHOCH), which signals a shift in momentum to the downside. This comes after price failed to sustain its bullish structure, breaking below a previous low and confirming the bearish bias. The CHOCH aligns with the expectation of a continuation to lower levels. Fair Value Gap (FVG) Mitigation We see price moving into a Fair Value Gap (FVG), highlighted in green, created by the sharp bearish move. This FVG serves as a premium retracement zone where price is likely to find resistance, offering an optimal opportunity for smart money to enter short positions. Key Levels Rejection Zone (Highlighted in Orange): Price has already shown a reaction and rejection from this zone, which aligns with previous support turned resistance. This level adds confluence to the bearish setup. Liquidity Pool: Below the $1.7450 level, significant liquidity rests from retail stop-losses. Price is expected to target this area as it moves lower. Bearish Bias The overall bias remains bearish, as the market structure and liquidity principles align for further downside. The retracement into the FVG provides an opportunity for shorts before price continues lower to target liquidity beneath previous lows. Execution Plan Entry: Look for short positions in the FVG zone ($1.7700 - $1.7750) or at the rejection zone if price revisits it. Stop Loss: Place stops above the FVG zone at around $1.7800, protecting against deeper retracements. Take Profit: First Target: $1.7450 (Liquidity Pool below the lows) Extended Target: $1.7200 (Deeper liquidity and historical support) Confluence for Bearish Setup CHOCH: Momentum has shifted bearish, confirmed by a break of structure. FVG: Price is retracing into a premium pricing zone for short entries. Liquidity Pool: Sell-side liquidity below previous lows provides a magnet for price. Rejection Zone: Price has already shown a reaction, reinforcing the bearish bias. Summary GBPCAD is poised for a bearish continuation as price mitigates the FVG and targets liquidity below. The combination of structure, liquidity principles, and rejection zones suggests a high-probability short setup. Patience for an entry confirmation within the FVG zone will ensure a favorable risk-to-reward ratio. Disclaimer: This is not financial advice. Always manage your risk and perform your own analysis before executing trades.
Short
by Cephas_John_
GBPCAD Wave Analysis 21 November 2024 - GBPCAD broke support zone - Likely to fall to support level 1.7500 GBPCAD currency pair today broke the support zone between the support level 1.7700 (which reversed the price in August and September) and the 38.2% Fibonacci correction of the upward price move from April. The breakout of this support zone accelerated the active minor impulse wave C of the ABC correction 4 from May. GBPCAD currency pair can be expected to fall further to the next support level 1.7500, target price for the completion of the active wave 4.
Short
by FxProGlobal
GBPCAD H4 300 pips dump incoming short it🔸Hello traders, let's review the 4hour chart for GBPCAD today. Weak support breakdown in progress currently on H4 and I don't expect it to hold the sell side pressure. 🔸There is no strong S/R zones until 7440 currently we are trading at 7730 so I expect the price to slide through the weak s/r zone. S/R zone was tested multiple times recently and only produced a weak bounce therefore expecting breakdown and new dump. 🔸Recommended strategy for GBPCAD traders: short sell at market or short sell any weak bounces near market price, SL 60 pips TP1 +150 pips TP2 +300 pips. good luck traders! 🎁Please hit the like button and 🎁Leave a comment to support our team! RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
Short
by ProjectSyndicate
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