GBP CAD BUYWe look at the indicators EMA and MACD to determine a quick 15min chart buy up to the next level of resistance
Gbp-cad
SS GBPCAD Long + 128 pip PotentialPrice is above the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and good RRR.
2 Potential entries (it is one or the other, not both)
Entry = 1.6278
Stop = 1.6258
Risk = 20 pips
Profit target = 1.6406 ( The projected daily High )
Reward = + 128 Pips
RRR = 6.4 - 1
2nd Entry = 1.6339
Stop = 1.6315
Risk = 25 pips
Profit target = 1.6415
Reward = + 75 Pips
RRR = 3-1
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Have a great weekend !
Allen
GBP CAD ShortPotential set up for GBP CAD.
This trade has been on my watch list and we are now approaching entry zone. Will be awaiting for retest confirmation before entering.
This trade does have high potential to pivot back to the downside as 1.61950 is a key psych level and pivot zone.
If the rejection and retest occurs there potential of hitting the 27% fib is very likely. Will be monitoring and updating privately
GBPCAD Buy Signal (Long term)Pattern: Channel Down on 1W.
Signal: Bullish as the price rebounded on the 1M Support Zone.
Target: 1.72000 (projected contact with the 1W MA200) and 1.78000 in extension (1W Resistance).
GBPCAD ShortCAD has been showing signs of being a bear currency in other pairs and here we see a clear double top. I'm waiting for a clearer break of trend and also a clear retest.
"GBPCAD: up move coming" by ThinkingAntsOk4 Hour Chart Explanation:
- Price was on a Descending Channel.
- It bounced on the Weekly Support Zone and broke it.
- Now, it has potential to move up towards the Resistance Zone at 1.66 and, then, if the up move continues, towards the Daily Descending Trendline at 1.738.
- We are looking for Buy Setups on lower timeframes to trade this instrument.
Check out our Weekly and Daily Vision, but also our last prediction on this instrument on the Related Ideas.
Weekly Vision:
Daily Vision:
Updates coming soon!
GBPCAD: Outlook for next week
on GBPCAD next week I will expect bullish continuation within a rising parallel channel.
On my focus will be a supply zone around 1.64 level,
I will be looking for a short trade in this area.
Bearish breakout of a channel will be a perfect signal for us to open sell.
Target levels: 1.62 1.60
GBPCAD: Trading Plan For Next Week
on GBPCAD next week I will expect bullish continuation in a rising parallel channel.
On my focus will be a supply zone around 1.64 level,
I will be looking for a short trade in this area.
Bearish breakout of a channel will be a perfect signal for us to open sell.
Target levels: 1.62 1.60
GBPCAD: Interesting Buy OpportunityThis is a very interesting market for watching - the price bounces from the support zone, which was confirmed in 2016 and 2017 years. RSI tells us about the oversold market conditions. MACD histogram is going to confirm the upward movement.
In spite of strong downtrend, the market has opportunities to move upward. The price has been falling for about four months, and a correction movement from the strong support zone looks logical.
Buy signals can be used from the weekly and lower timeframes. The stop orders must be placed below the support zone. Profit targets should be placed at the resistance levels. Don't forget about proper money management.
GBPCAD: Potential Bearish Bat Pattern
Potential harmonic bearish bat pattern.
Entry - 1.6185
T1 - 1.6075
T2 - 1.60
Stop - 1.6272
GBPCAD: For those who missed short
though I have already shorted GBPCAD,
those who missed the entry can now trade the pair with a confirmation.
the confirmation will be bearish close below the rising wedge.
Stop will be above the highest point of the wedge.
T1 - 1.6075
T2 - 1.60
GBPCAD - Intraday Setup August 16th!It's friday! Trade on your own risk with small volume!
Goodluck!
#GBPCADTime span specified
The orange areas are important , and if successful, it can go to the green areas .
Price in the pattern
GBPCAD ShortThings don't look like they'll be improving for GBP on a macro level anytime soon, and the algo generated a short signal for this pair on Friday's close.
It's true the RSI is under 30 here and many interpret that as "oversold" but in Spot ForEx "oversold" isn't really a thing, so it's sufficient that the RSI is under 50 to give an approximation of the strength of the move.
While a short does look appealing here, politics and sentiment move the pound quite a bit so risk management on an entry here will be important!
GBPCAD IDEAYesterday on CAD news we bounced fast and hard from 1.598.
We bounced because there was alot of longs set at 05:00 31 July, right at US market close.
After that Asia Pushed the price down from where it bounced hard on 3rd attempt(breaking previous low by a litle) and reversed few hours before EU market went live.
Now that some of those longs were closed yesterday on the target, we might drop down again for some strength.
Watch the price action closly at @1.59600
If we bounce we are going to 1.61350 this time
If we fall, we will fall to ~1.594 and bounce from there.
I do not belive we will drop further then 1.593.
We could bounce straight up from where we are too, alot of GBP news today.
"GBPCAD: target reached. What to expect now?" by ThinkingAntsOkDaily Chart Explanation:
- Price broke the Ascending Trendline.
- After that, it started a violent down move.
- Price reached our first target price at 1.6025.
- Bullish Divergence on MACD.
- Price may take a break here, in the Support Zone, and move towards the Resistance Zone at 1.66 before starting its new path.
Weekly Vision:
Updates coming soon!
GBPCAD - LONG TERM SHORT POSSIBILITYDAILY DEMAND ZONE AND SUPPORT BROKEN THEN SELL TO THE NEXT DAILY DEMAND ZONE
