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Gbp-cad

GBPCAD: Harmonics, Candles & Patterns hey guys, GBPCAD is trading on a key daily structure resistance. The price formed a completed harmonic bearish bat pattern. Friday's daily candle was rejected. on 4H the price is contracting within a rising wedge pattern. after an attempt to break through the daily structure, the price has formed the inside bar candlestick formation. 1.714 - 1.7207 is the range of the mother's bar. this pattern signifies complete indecision. though it can be broken to both sides, we will trade it only in case of a bearish violation because of our daily bearish bias. we need 4H candle close below the mother's bar range to confirm the violation. then we can short on retest aiming at 1.707 1.703 in case of a bullish violation of mother's bar, I won't trade and setup will be canceled.
Short
by VasilyTrader
16
GBPCAD ANALYSISStrong bullish wave (a) ended at level 1.7025 after breaking downtrendline then corrective bearish wave (b) rejected from demand zone at level 1.6875 which corresponds to 61.8% Fibonacci level Price is based above HVN at level 1.6909 which indicates that pair is in accumulation phase MACD shows bullish momentum RSI is above level 50 It's expected for coming strong bullish wave (c) to target first resistance level at 1.7025 then finally target supply zone at level 1.7175
Long
by MMFXSignals
1
Are We In Process of Forming Inverse Head and Shoulders?This looks to be in the process of forming an inverse head and shoulders pattern. So will trade with the move over time. I actually want it to go bullish, but we need a strong confirm for that to happen. So let's what happens. I also have to update my map. That's why you don't see the zones just yet. BULL TPS: • 1.69934 • 1.71040 • 1.71708 BEAR TPS: These are based on where the arrows are. • 1.71234 • 1.70286 These are below the weekly level • 1.68816 • 1.67831 • 1.67196
by NikaJourney
GBPCAD - SWING - 24. JUNE. 2020Welcome to our weekly trade setup ( GBPCAD )! - 1 HOUR Bullish week closed above main sr level. 4 HOUR Expecting another push to the upside. DAILY Overall bearish market about to turn, good long entries! - FOREX SWING BUY GBPCAD ENTRY LEVEL @ 1.69160 SL @ 1.67710 TP @ 1.71270 Max Risk. 0.5% - 1%! (Remember to add a few pips to all levels - different Brokers!) Leave us a comment or like to keep our content for free and alive. Have a great week everyone! ALAN
Long
by DACapitalTrading
19
GBP/CAD at 50% retracement level.GBP/CAD at retracement level. Following a large drawdown of 160 pips, the GBP/CAD is at the 0.5 Fibonacci retracement level. Previous false breakouts have occurred on the 4th June and 8th June - price action tends to repeat itself so this breakout below the trend channel is likely to be false too. The hourly stochastic is giving an oversold signal, along with the %K line crossing above the %D line, leaving a high probability buy trade. Place a buy stop at 1.708 to confirm the trend, scaling in a position may also be a good choice. WATCHOUT: both the United Kingdom's and Canada's CPI inflation reports are released this week (Wednesday). Predictions show that disinflation may occur in the UK (0.5% down from 0.8%), potentially leading to more contractionary monetary policy by the BofE. Meanwhile, although rated low-level Canada is predicted to recover from its deflationary period potentially pushing the GBP/CAD down.
Long
by harryspencer
1