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Gbp-cad

GBPCAD | BEARISH TRADE OPPORTUNITY- GBPCAD is on a strong DOWNTREND on the higher time frames. - The weekly has broken through the previous low and a new bearish engulfing candle is currently developing. - On a 4-hourly TF, we are seeing the closure of a bearish engulfing candlestick while all MA20-50 & 100 are trending above the price, suggesting bear pressure. - Hedge funds are also selling off GBP, while CAD is increasing. So the overall setup looks good for a short trade opportunity.
Short
by fxtraderkristina
GBPCAD on a double bottom retracement 🦐GBPCAD on the 4h chart reached as expected the daily support at the 1.58 area. The price tested the area 3 times creating double / triple bottom over the support and can now look for some short time retracement to upside even though the main trend remains bearish on the weekly timeframe. How can i approach this scenario? I will wait for the London market open and check for a possible move to the upside. If the price will then break above the descending trendline i will look for a nice long order according to the Plancton's Academy rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
3
GBPCAD Strong buy opportunity for the rest of the year.Back in February, which was our last GBPCAD idea, the pair was trading within a Channel Down that offered us an accurate sell trade: Since then, the pattern broke to the downside and the pair now sits at more than -9% from its February 21 High. This however gives a new high probability pattern on the long-term as both the price action on the 1D time-frame and the 1D RSI suggests that it may be replicating the sell-off sequence of May 06 2019 - August 09 2019. That fractal bottomed after dropping around -10.50%. If however the price enters the red Ichimoku Cloud first, it will turn into a sell opportunity on the spot. In that case you can use the Fibonacci retracement levels as shorter-term targets (see how those got systematically filled with Higher Highs during the 2019 recovery) but on the long run, we do expect the 1.7378 Resistance to get hit. Draw the Fibonacci levels from the -10.40% level if the price doesn't enter the Ichimoku first. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Long
by TradingShot
5
GBPCAD: Price Arrives at the Bottom of the Horizontal ChannelSince 2016, GBPCAD has been moving in a wide horizontal channel. Recently, GBPCAD has reached the bottom of the range at the level of 1.5900. We can clearly see that many reversals have occurred from this level. Observing the weekly chart, reversals have all occurred through forming clear bullish candlestick patterns. Therefore, we are currently waiting to see a bullish candlestick pattern being formed. If formed, this could give us a high probability swing buy opportunity.
Long
by NicoBeau_Capital
GBPCAD a turn at the 0.382 🦐GBPCAD on the 4h chart after the last bearish leg retraced exactly at the 0.382 Fibonacci level. The price is now testing again the daily support at the 1.63400 level. How can i approach this scenario? I will wait for the break below the support and when that will happen i will look for a nice short order according to the Plancton's strategy rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
GBPCAD looking for the 0.382 🦐GBPCAD on the daily chart after a long downtrend is possibly looking for a retracement move. The price is trading below a daily structure and a possible break above can be seen during the current week. How can we approach this scenario? We will wait for the London market open and the daily activity volumes to kick in,and in the case that the price will break above the daily resistance we will move on the 4h timeframe and search for a nice long order according to the Plancton Academy rules. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
⭕️SELL GBPCAD ; its time to sell 🧐⭕️You see the analysis of the pound against the Canadian dollar in the daily time (GBPCAD , 1D)❗️🔎 🔰As you can see, the price moves in a flag-like pattern where the top and bottom lines are highlighted in white. Given the price in the lower line of the flag-like pattern and its uptrend line, as well as the purple supply range, buying this low-risk currency pair makes sense🧐 The target is also placed in the range of the resistance line (orange line)❗️ The profit and loss limits are also shown in the picture👌 ⚠️⚠️Please observe capital management and open a low volume transaction❗️❗️ I hope this analysis is useful for you🙏🏻🌹 📌Please introduce the "TRADER STREET" to your friends 🙏🏻 ____________________📈TRADER STREET📉___________________
Long
by TRADER_STREET
2