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Gbpcadanalysis

GBPCAD W5 Mar 2021GBPCAD Long Setup 💪🏼 Price broke out of a corrective phase and descending channel. This breakout indicates a possible Wave-1 and a possible retest to occur for a Wave-2. Signs of rejections off the zones will provide for long opportunities. Higher timeframes shows price is trading above the Daily and Weekly 200EMA with a Daily bullish engulfing. Weekly timeframe is plotted with a ABC movement to the upside with a complex correction of Wave-B. Starting of Recent bearish movement has brought us to the golden 61.8% retracement level. 2 targets in place: TP1: Previous highs at 1.79000 (Fib Ext of 0.50) TP2: 1.90000 (Fib Ext of 1.00)
Long
by SuperMonkey0
GBPCAD | Perspective for the new week | Follow-UpPrice activities moved the other direction as price Breakout of the uniform range between CA$1.76000 and CA$1.68000 as the Pound gained traction following a recent reduction in the price of Oil (explained in my last publication, see link below for reference purposes); I shall be looking forward to Bullish entries in the coming week(s). Tendency: Uptrend ( Bullish ) Structure: Breakout | Supply & Demand Observation: i. Demand Level III has remained "Supported" since December 2020 as we have experienced the consecutive rejection of this level in the past three months. ii. The last quarter of 2020 witnessed the emphatic rejection of CA$1.75000 not until a Breakout of this level in late January 2021 giving us a clue that participants have finally gained a pint of confidence for the Pound. iii. However, since the Breakout of CA$1.74000 early this year, this level appears not yet strong enough to hold price ( a feat showing doubts in the recent Bullish bias) as we experienced a significant breakdown in mid-March 2021. iv. This brings my attention to Demand Level III, which has held price eight different times in the recent past and with the Bullish engulfing candle springing out of this level last Thursday, I shall be expecting a Breakout/Retest of CA$1.74000 (Demand Level IV) in the coming week(s) to join the rally. v. As CA$1.74000 remains my Key level going into the new week, I shall be waiting to see a Breakout/Retest of this level (anywhere above Demand Level IV) to join the rally. Trading plan: BUY confirmation with a minimum potential profit of 400 pips. Risk/Reward : 1:4 Potential Duration: 10 to 20days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPCAD - Buy Entry - H4 ChartGBPCAD - Buy Entry - H4 Chart Buy @ Current Market Price Stop Loss @ 0.5% to 1% of your Account Balance Please support the idea with a Like 👍 Follow me to receive updates of this analysis, plus new ideas ✅ Thank you for your support 😊 Wishing you successful trading 🙏 ------------------------------------------------------------------------------------ 🔺 DISCLAIMER 🔺 The content of this analysis is subject to change at any time without notice. 🔺 It is provided for the sole purpose of assisting traders to make independent investment decisions. 🔺 You must do your own research to create your own trading plan for the market. ------------------------------------------------------------------------------------
Long
by UnknownUnicorn5418842
Pound Canadian Short Position Trade - 2021The analysis is based off my unique approach to seasonal tendencies when Price is in a Ranging Market. Taking 2020 as the third year if we look back until 2017 you will notice how, during this period, the market has been repeating a pretty noticeable Fractal Pattern. Taking that into account l predicted a significant high to form on the Pound Loonie during First Quarter of 2021 which has happened so far. I'm anticipating the low of this Year to come around Aug-Sep, sweeping the lows around the 1.67387 level and finally taking out the Low created in March of 2020. The Canadian Employment Numbers came in positive for the Loonie @259.2K far larger than the forecast of 75.0K, this occurrence might just be the Fundamental confluence needed for my Technical analysis to pan out as anticipated.
Short
by watersthetrader
GBPCAD BUY|GREAT IDEAHello Traders, here is the full analysis for this pair. Watch strong action at the current levels for BUY. GOOD LUCK! Great BUY opportunity in GBPCAD . I still did my best and this is the most likely count for me at the moment . Support the idea with like and follow my profile TO SEE MORE Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗
Long
by BULLSS1993
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