Gbpcadforecast
GBP/CAD LONG Anaylsis IMMEDIATEHello Traders!
Today we look at GBP/CAD. This is a pair I have been following for a while waiting for the opportune moment to enter into a long position. I noticed a few weeks ago a strong Bullish Pennant was forming and we have finally reached the point of convergence. That combined with Mcginley Dynamic (Best Moving average by far if you ask me) and my trend indicator give me a strong buy signal. I also use one other secret indicator for my confirmation that gave me the go-ahead as well. If you want to know that indicator ask in the comments!
This is for educational purposes so please trade at your own risk. Below are my exact entries for the trade if you do wish to follow something similar!
Entry:1.71269
Take Profit:1.77335
Stop Loss:1.70044
Pip Goal:606.6
R/R 1:4.95
Buy GBPCAD after the recent correctionWe have seen a decent correction in GBPCAD over the last few weeks. However, price action indicates that things might turn around very soon.
I believe a reversal is on the way for GBPCAD.
Technically, a) Price is finding support at the 100D EMA.
b) A descending wedge formation is taking place.
So, I will be looking to go long in the 1.6850-1.6950 zone with SL below 1.6780. If the trade goes into profit, we can Take Profit(TP) at 1.7080, 1.7200 and 1.7500.
GBPCAD roadmap on dailyNote : I see price bounce down after touching the daily key level, the downside target is at 1.68500
**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 like i do, please write it in comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
GBP/CAD : Sell on 3rd Touch Confirmation Big Corrective continuation pattern , Wait for 3rd Touch Confirmation to sell in Downside.
GBPCAD bounced from support, potential for a further rise!
GBPCAD bounced off 1.69650 where it could potentially rise further to 1.72308.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
GBPCAD bounced from support, potential for a further rise!
GBPCAD bounced off 25284.1 where it could potentially rise further to 26709.6.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
GBPCAD approaching support, potential for a further rise!
GBPCAD approaching support at 1.69895 where it could potentially rise further to 1.72308.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
GBPCAD bounced from support, potential for a further rise!
GBPCAD bounced off 1.69895 where it could potentially rise further to 1.72284.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
GBPCAD bounced from support, potential for a further rise!
GBPCAD bounced off 1.69895 where it could potentially rise further to 1.72284.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
GBPCAD -Waiting for retracement to finishWaiting until GBPCAD finishes retracement. I see that it will retrace at 61.8 golden ratio where the 4th wave was before. Note that retracements likely end where the previous wave 4 is. Other than that I will wait for it to breakout of 5th wave to become ultimately bullish.
GBPCAD Bearish Bias, I entered this at earlier point!This is what I am looking at this morning... As you can see, a clean trendline break on that upwards trendline. There is a nice area of resistance above if the retail sales data at 9.30am GMT comes in positive. However, we have the BoE interest rate decision at 12.00 GMT which is expected to remain, but with more members voting to have a rate cut! If the rate isn't cut today, it is expected to be cut early in 2020. Also, tie this in with the crude oil inventories release yesterday shooting up the price of oil which strengthened CAD as a whole. With both fundamentals and technicals lining up nicely on this pair I think it leaves a good short opportunity!
To keep the chart clean, I removed my Fib retracement levels. My exit is just above the 61.8 retracement of the whole upwards move :)
GBPCAD approaching support, potential for a further rise!
GBPCAD approaching support at 1.70688 where it could potentially rise further to 1.75369.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
GBPCAD forecast on H5, potential H&S patternPlan : trendline breakdown --> wait for prices to bounce off trendline resistance --> 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 like i do, please write it in comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
GBPCAD SHORT TERM SELL, LONG TERM BUYPound Sterling (GBP) strength is it finish yet ? Here is why I think no... Comment your thaughts below !!!
Please give a follow, like, comment, enjoy. Until the next ....
GBPCAD forecast on H5, possible double top formationPlan : trendline breakdown --> wait for prices to bounce off trendline resistance --> 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 like i do, please write it in comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
