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Gbpcadanalysis

GBPCAD, daily timeframe, 5th wave of Elliott WaveHello my friends, Today i noticed some good setup from GBPCAD. Previously this pair make an inverted shoulders head pattern and then push straight to the upside for 700 pips in 2 weeks. I tried to fit some fibonacci tools into it and count the waves according to Elliot Waves principle. Surprisingly, it looks like this pair just finished with the 4th Wave. Wave-4 is the shortest wave and usually it stopped at 38.2 fibonacci retracement. We could possibly see wave-5 from this point onwards and usually it ends at 127% fibonacci retracement of Wave-4 Wave-4 could never touch the area of Wave-1 so we could use stop loss a little below Wave-1. In this case, my stop loss is at 1.7200 Buy GBPCAD 1.7395 Stop loss 1.7200 Take profit 1 @1.7675 Take profit 2 @1.7870
Long
by HayatoDragonFX
GBPCAD ON THE VERGE OF A REVERSAL?!**ENG** - Price breaking our consolidation box and is now heading for a retest, we are expecting more downside after this same retest, wait for an entry confirmation before entering, look at the lower timeframes (such as 15min). **PT** - Preço a quebrar a nossa box de consolidação e está de momento a caminho de efetuar um retest, estamos à espera de um drop maior este mesmo retest, o ideal será aguardar por uma confirmação de entrada em timeframes inferiores (assim como 15min).
by Wevesting
GBPCAD Bearish Retracement Trade Opportunity!!!Currently, we are looking at GBPCAD potential breakout of the trend line giving it a BEARISH trade opportunity to range between 61.8 fib level and 1.7258 support level. This will be an important point to note as we also see a potential breakout from middle band giving it a bearish strength to test the lower band. As of now, I will be bearish on GBPCAD and will like to see a breakout from here or else I will be looking at 1.7670 resistance level to enter a short position. 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
2
GBPCAD short trade ideaPlan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **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 a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
1