GBPCAD HAS REACHED A MONTHLY LOW, NOW PRESENTS 450-600 PIP BUY?GBPCAD has reached a monthly low and a D extension.
It appears as though price may have found support. If this is the case, I would like to see a correction to the 61.8 level of the down move.
This would present a buy opportunity of roughly 450-600 pips.
Price could react at the 38.2 which is why I have given a potential profit range.
Gbpcadforecast
GBP/CAD:DOWNTREND|PRICE ACTION| SHORT SETUP...Bank of Canada, Macklem: We may raise the rate sooner than previously thought.
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SwingTradingIdea(GBPCAD)(Long)We are seeing a ascending triangle on 4H timeframe, and we reached the support zone on daily timeframe, also if we close this week we will have a buy signal on weekly stochastics. we can trade the triangle and keep the position open for more potential profit, This can be a very juicy trade considering the risk to reward ratio of 1:4.
GBPCAD: Stuck at StructureThis pair is utilising the previous supportive region as new resistance, price seems to be stuck.
The indecision is creating buying and selling pressure in the consolidation zone.
Personally, I would like to see a sell from here to lure more shorts into the market before we bounce at the low for long term buys to break the key structure.
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GBP/CAD: DETAILED PRICE ACTION|DOWNTREND|SHORT SETUP🔔According to the latest Reuters poll from October 13-20, market analysts expect the Bank of England to be the first of the world's leading central banks to raise rates in the new post-pandemic cycle.
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GBPCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPCAD: Retrace TimeI am expecting a retrace of this huge sell-off.
We saw a liquidity purge of the support created after the trendline bounce.
Now that this is out of the way, we can expect some pullbacks before bearish continuation.
We can either pull back from this zone or we can take the low before we retrace.
GBPCAD analysisWe have had a good period of bearish momentum. Price is currently in a correction phase. Using the trendline rules of entry, a buy position should be actively running, but because I saw signs of a pennant forming, I had to wait. The pennant has clearly formed. This chart pattern is neutral and price can go either way, which invalidates entries solely based on the trendline strategy. First/ minimum TP target should be the length of the pennant's back.
*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk. Exercise proper risk management and be patient.
#TradeLikeMagnatrio
GBPCAD: Flow into ReversalThis is a lower timeframe description of how we can approach this pair in relation to my last related idea.
Please ensure you understand our daily outlook before you proceed with this idea.
I will be looking to clear the minor resistance before bouncing from the demand region down into our area of interest to buy from.
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Keep in mind that the analysis provided is not 100% accurate and that you can never be certain of the markets. This information given is not financial advice, always do your own research.
Thank you for reading,
Cheers to many pips!
GBPCAD: Reversal PointThis pair gave a clear sell-off signal at the resistance point.
If you understand order collection and liquidity you should have been able to ride this wave down without an issue.
This leads us to our next question, where is the reversal point?
Similar to the price action found at the resistance, we can expect this at the support region.
I have illustrated the potential liquidity grab before we see retracements on the bearish move.
Leave a comment and/or message us on how we can improve and provide better content, we are open to suggestions to create a better experience for you!
Keep in mind that the analysis provided is not 100% accurate and that you can never be certain of the markets. This information given is not financial advice, always do your own research.
Thank you for reading,
Cheers to many pips!
GBPCAD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBP/CAD:RANGE AREA / SUPPLY AND DEMAND ANALYSIS / NEXT TARGET🔔 Welcome back Traders, Investors, and Community!
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GBPCAD Bearish Idea (Weekly Timeframe)For the past two weeks, we observed CAD weakness against several currencies including the Pound! As far as GBPCAD goes we are approaching a very important zone! A zone that stood steadily against bears since March this year!
The bears' dominance is subjected to lower timeframe price action, especially on H4 and H1! Any reversal pattern or candlestick formation will be taken as confirmation for bears' dominance!
💡 GBP/CAD Potential short opportunity.Hi traders. My analysis on GBP/CAD is suggesting more Pound weakness ahead. We are bearish on the daily with a Fib rejection off the 38.2. On the 1h we have formed a H&S pattern which is looking like it will break the neckline as well as the trendline. When we do a minor test of the neck line is what i will look for to enter the short position. My TP1 is at 1.72704 TP2 1.71736