Gbp-cad
GBPCAD Fibonacci Analysis: Structure & Fib Confluence at TargetOn GBPCAD we have a potential short setup based solely on Fibonacci levels.
After a large drop , price rebounded up to the PINK .618 Fibonacci retracement level , which coincides with the RED 1.272 and 1.414 extension of the recent bullish leg.
High momentum rejection followed and price moved down until it found support at the ORANGE . 618 retracement
I expect price to find resistance at the PURPLE reversal zone between the .382 and . 618 retracement .
If price respects this level, I will look to short and take profit at the BLUE 1.272 extension level.
If you look left, this 1.272 extension has confluence with multiple levels of structure around the 1.736-1.74 prices.
GBPCAD SS Long + 114 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:
Breakout Entry = 1.7598
or pullback entry = 1.7585 (15 KS)
Stop = 30
Risk = 20
Profit target = 1.7698 (Daily projected high)
Reward =
RRR =
Are you a drunken idiot?You can see our support and resistance zone ( red box ) that is marked out with arrows to show where this zone has been respected as support ( orange ) and resistance ( purple ) Now price is currently hanging around this zone like a drunk idiot who doesn't want to leave the bar at closing time because he has spent all night trying to hit on the bar maid who is 20 years younger and way out his league... yes he gets REJECTED and goes home alone... just like price here is going to get REJECTED and make bearish movements.
We can see price making moves down to our TP zone ( green box ) This would give you around 80-100 pips.
As always with GBP pairings trade with caution until the muppets that run this country can decide what they are doing.
GBP/CAD It's about to ride a new wave...Analysis:
1.It's about to make a HH
2. Daily EMA is under the normal.
3. It is on the fibbonaci retracement zone
4. New target is Monthly SUP which fits perfectly to FIB extension.
5. Trendline is broken.
Possible double bottomPrice rejected 1.7360, came back to 1.7540 area, and then fell back down to 1.7360.
If there is a candle closure above 1.7540 (neckline), there is a double bottom. After that confirmation i see the price move to 1.7700
GBPCAD's STRONG BUY AFTER CAD's GBP FRIDAY NEWS Instantly, I see a strong buy for GBPCAD for a buy after the CAD's GDP Friday news fromm Friday's drop. We are going to look for a strong buy for this week's GBPCAD. There is enough support for GBPCAD for a long.
GBPCAD Short Opportunity1.780 Resistance has proven to be a strong barrier. Great risk reward with this trade setup if entry is above 1.775
GBPCAD Head and Shoulders formed at Upper Channel ResistanceHere we have an opportunity to short GBPCAD after a confirmed break of the H&S neckline. GC has been trading within the pink channel for the past month.
On a larger timeframe, GBPCAD is also at a larger channel resistance.
If bearish momentum on GBPCAD is strong enough to break the pink channel, we should see further bearish movement to the downside
GBP CAD SELL (POUND STERLING - CANADIAN DOLLAR)Hi there. Watch strong price action at the current price for sell.
GBPCAD 1:4 Risk Reward (BREAKOUT HIGH RISK)Daily resistance however majority sentiment looks short
- Potential breakout because fundamentals are looking stronger for GBP
- Would target all the stops for the masses
- Potential 1:4 Risk Reward until the next selling area
- Brexit delay reduces some of the uncertainty with a possible deal by may
- Allows time for legal infrastructure changes in businesses in the UK and EU
GBPCAD Multiple Rejection, Double Top, Rising ChannelHere we have an opportunity to short GBPCAD at the break of the rising channel.
Bearish Signals: Double top, RSI divergence, 1.272 fib extension confluence with channel support and structure (look left!)
GBPCAD approaching support, potential bounce!GBPCAD is approaching our first support at 1.7268 (horizontal pullback support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level to our major resistance at 1.7443 (38.2% Fibonacci retracement).
Stochastic (34,5,3) is also approaching our support where we might see a bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
What goes around comes back around With this pairing breaking and re testing a good trendline TL late last week we can only see downside movement and possibly reaching our target zone of around 300 pips from current price.
We have placed our target zone where we have because it is very strong support and resistance area where price has respected as far back as 2009... See the importance of keeping these key levels on your chart or at least wrote down somewhere safe.
PLEASE TRADE WITH CORRECT RISK MANAGEMENT and only use our analysis if it lines up with your own.
GBPCAD | Long trade setupHere's a low risk long trade setup for GBPCAD.
Momentum has slowed in a support zone which also lined up with an ascending trend line.
We have a good opportunity to attempt a long trade with low risk & high reward.
GBP/CAD Long (Pure Price Action)Just started postin :)
I see GBP/CAD to make a just a little more pullback,then i expect it to go up. :)
If anyone cares leaving a like.
:)
