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Gbpcadanalysis

GBPCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of GBPCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 43 - 19 Oct 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 is getting filled by next monthly candle. W > On its way down price created an M formation and as expected price moved up to test the neck before continuing with bearish move. D > We had expected price to move up to test neck of M formation but price reversed from neck after completing M formation after struggling for a week with rejection wicks. Price is now creating HH and HL, it is now moving down and we expect it to move bearish to test last weekly support in middle of the range. We will have let go of bullish target of neck of M formation for sometime. As per COT GBP saw closure of both Long and Short positions improving net positions but still in -ve, whereas N-R could not gauge the same path and they went opposite with addition of both Long and Short. Commercials closed both Long and Short positions, Short for them reducing further to least for current year. BXY had further improved its position during the said week but it weakened last week. CAD saw addition of major Long and closure of Short positions with Short positions further reducing to least for current year, improving net positions (still in -ve). CXY further gained strength during the said week but weakened a bit last week. 4H > Price is moving down creating HL and LL. We expect it to continue with bearish move but with correction pull back. 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. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
GBPCAD, 4hr tf, double top pattern with ichimoku confirmationHello my friends, Another possible setup for GBP cross is GBPCAD pairs. I am looking for a sell position in this pair as my screener showing this pair could go lower. Some confirmations already met and we could try selling this pair on a retracement to 1.7100 area. Noticed also it looks like this pair making a double top pattern and i think price already breached the neckline once with a solid candle close below it on 4hr tf. Price then bounce from the neckline support but it only bounced a litte compared to the previous bounce. I think we could see price continue south soon so we will set a sell limit order to get a more rewarding RR ratio Sell limit GBPCAD 1.7100 Stop loss 1.7160 Take profit 1 at 1.7040 Take profit 2 at 1.6980 Take profit 3 at 1.6920 RR Ratio is 1 : 3 Use only 1-2% risk Good luck If you find this post useful please drop a like and follow me for my next update
Short
by HayatoDragonFX
GBPCAD H4. This Analysis Based On Price Action Theory.We Have an Analysis Of GBPCAD H4. This Analysis Based On Price Action Theory. According to Multiple Analysis, We Can See That the market have a strong 💪🏻 bearish pattern As well as price decline from the previous Resistance. for this we have to new Target( support) @1.71000 & @1.70000 For more confirmation you can see that super trend, Bollinger Bands they all are indicated bearish patterns I Request to All Before The Trade You Also Match You're Analysis With As If You're Set up Match Then You Can Trade. Thanks Regard shivamfx Technical Team Note- Please Take Only Two ✌️ 2% Risk On Given Analysis
by shivamfx
GBPCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of GBPCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 05 Oct M > Market is moving in a well respected horizontal structure (of course with minor breakouts). Price had dropped to monthly support in middle of the structure, faced rejection and moved up. W > On its way down price created an M formation and as expected price moved up to test the neck. D > Price has been creating HH and HL on its way up. It created a W formation and dropped till neck to complete the formation. As per COT GBP saw closure of Long and addition of major short positions bringing net position to -ve, whereas N-R saw closure of both Long and Short, Commercials saw addition of Long and closure of Short. BXY was weak for the said week but it improved its position last week. CAD saw closure of both Long and Short positions, N-R saw addition of Long and Short positions and Commercials saw closure of both Long and Short, confirming weakness of CAD for the said week. CXY gained strength last week. 4H > Price is not able to move above the resistance created by the neck. We need to wait for its break for confirmation of bullish move. Pair Correlation: GBPCAD has positive correlation with GBPAUD, GBPCHF, GBPUSD and GBPNZD and negative correlation with EURGBP.. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Long
by AP17FX
GBPCAD RoadmapGBPCAD potentially to down for +300 pips if the seller manages to push the price to the 1.6930 support level, we need to wait for price rejection to occurs before placing any sell order. **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
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