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Gbpcadanalysis

GBPCAD - BUY - 4H SupportGBPCAD - BUY - 4H Support Buy @ Current Market or a Break of 1.70959 Stop Loss @ 1.70162 Take Profit @ 1.73361 ------------------------------------------------------------------------------------ 🔺 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
GBPCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of GBPCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 45 - Nov 02 M > Market is moving in a well respected horizontal structure (of course with minor breakouts). Price moved up to test structural resistance and dropped till monthly support to face rejection again. While dropping each month bottom wick was getting filled by next monthly candle however this could mot happen last month. W > On its way down price created an M formation and as expected it moved up to test the neck before continuing with bearish move. Price dropped till 0.768 Fib level on last bullish impulse before reversing to the upside. D > Price is moving in a triangle respelling trend-lines as resistance and support, price reversed to the downside from daily supply zone. Switching to line chart we can see a W formation and can expect price to drop till its neck. As per COT GBP saw closure of both Long and Short, in effect reducing net positions. Even Commercials have closed both Long and Short reducing open interest to least in current year. BXY ended said week in a Doji after strong buying pressure during start of the week but it weakened last week. BXY is currently moving in a rising channel, price surged 2 weeks ago hit resistance and dropped near support of channel last week. We can expect slight upward move this week. CAD has not seen much movement for Long in last 2 weeks but it reported closure of Short positions. In fact N-R have more open Long positions than Institutions. CXY improved its position for the said week however it saw huge dump last week with price showing some sign of recovery end of the week. We can expect further recovery this week. 4H > Price is finding support of upward trend-line, it is currently moving to the upside but we can see rejection wick from resistance level. We expect price to reverse to the downside with a pause at support trend-line. Recommendation > Market is ideal for swing as well as intraday trading with each daily candle moving about 100 pips. Pair Correlation: GBPCAD has positive correlation with GBPCHF, GBPUSD, GBPJPY and GBPNZD and negative correlation with EURGBP. Thank You AP17FX
Short
by AP17FX
GBPCAD long trade ideaLast week on the daily GBPCAD has made an Impulse to the upside and went for a retest of the impulse almost to 0.618. So, from daily we have a bullish outlook also today on 4H market shifted from bearish to bullish and we can look for big long from here. I will open a long from 1.71700. But keep in mind that we have a strong resistance in the weekly chart on 1.72500. So, if the market goes in my favor and tests the weekly resistance I will risk free this trade just in case the market doesn't break weekly resistance but if market breaks weekly resistance we could see GBPCAD move to 1.75000.
Long
by rafi_trader21
GBPCAD Moving Towards Resistance Zone...We will start by looking at GBPCAD past movement near the 1.7258 resistance level. What we can see is several clean rejection off this level without any form of breakout signs. With the current price movement, we can see that price level just rejected off this resistance level as well as a nice rejection off the ichi cloud. This rejection from the ichi cloud can show us the direction off this pair and that the movement is still considered BEARISH as of now. Will look to enter near this resistance zone but do look out where you place your SL. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
Waiting for Retest of Bullish Engulfing To CompleteWe're going to be trading off the results of the bullish uptick and the partial retracement from last week. It is actually a bullish engulfing on the daily timeframe. If we go back down, he may bounce from the daily zone of 1.71798, then head to the weekly level at 1.70366. Otherwise, we'll continue to go bullish once the retracement is complete as soon as we pass the daily level. BULL TPS: • 1.71684 • 1.72830 • 1.73672 BEAR TPS: • 1.70968 • 1.70498 • 1.69885 only if the retest of the engulfing candle on the higher timeframe fails and we pass through the weekly level.
by NikaJourney
GBPCAD STRONG SELL POSITION!THIS ANALYSIS FOR GBPCAD ON TIME FRAME 4 HOUR. I HAVE 2 OPTION FOR BUY AND SELL 1. YOU CAN SELL NOW! SL 1.73320 OR YOU CAN SET SL 15 - 30 PIPS WITH YOUR OWN RISK. 2. YOU CAN ENTRY BUY WHEN RBS ZONE BREAKOUT OR YOU CAN ENTRY BUY WHEN PRICE PULLBACK AT FLIP ZONE. SL 15 - 30 PIPS WITH YOUR OWN RISK. YELLOW LINE IS MY ENTRY. GOODLUCK !!! IF YOU WANT UPDATE ON GBPCAD KINDLY FOLLOW AND LIKE. FEEL FREE TO COMMENT YOUR OUTLOOK AND SHARE WITH YOUR FRIEND. THANKS!
by ShahrulMokhtar_SAM