GBPCAD - Looking To Buy Pullbacks In The Short TermH1 = Bullish trend pattern
No opposite signs
Until the strong support zone holds I expect the price to move higher further after pullbacks
Gbpcadforecast
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GBPCAD Short Trade Setup A #short trade opportunity recently presented itself on the #poundloonie (#GBPCAD) #trading chart 📉.
This is indicated by the #bearish inverted pin bar candlestick 🕯️ pattern just below the 1.72552 horizontal resistance level.
This indicates a rejection of the same level, with potential price move in the downward 👇 ⬇️ direction (#sell).
Sufficient downward momentum should see price dumping towards the 1.69500 psychological level and possibly testing the strength of the 1.69171 horizontal support level.
As always, please apply appropriate risk management.
Happy trading!
#crosspair
GBPCAD
It seems like GBP/CAD is gearing up for a bullish move, supported by a bullish flag pattern formation and completion of a 38% retracement. With the breakout from the bullish flag, there's potential for a continuation of the upward trend. Traders may consider entering long positions to capitalize on this anticipated bullish momentum.
GBPCAD Sell IdeaOANDA:GBPCAD has been in bearish trend. Recently, It broke the last low with great selling momentum. It has been retracing back to fib 50-75% discounted levels where we can look for selling opportunities up to recent low.
GBPCAD Local Short!GBP-CAD went up to
Retest a horizontal resistance
Of 1.7219 from where we are
Already seeing a bearish reaction
And I think that the pair will
Go further down !
GBPCAD
In the 4-hour timeframe, GBPCAD exhibits a bullish trend. To maximize entry precision, consider waiting for a retracement of around 50% to a key order block level before buying. This strategy can enhance the probability of capturing favorable price movements within the overall upward trajectory.
GBPCAD - Bearish market structure ✅Hello traders!
‼️ This is my perspective on GBPCAD.
Technical analysis: Here we are in a bearish market structure from daily timeframe perspective, so I look for a short. I expect price to continue the retracement to fulfill the imbalance higher and then to reject from trendline + institutional big figure 1.71000.
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GBPCAD - Looking To Sell Pullbacks In The Short TermH4 - Bearish trend pattern
Lower lows
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
GBP/CAD Harmonic Pattern Signals Bearish OpportunityOverview:
GBP/CAD has recently exhibited the formation of an Anti-Butterfly XABCD harmonic pattern, concomitant with the price approaching a crucial Resistance area. This confluence suggests a potential Bearish reversal from point D, indicating a favorable opportunity for traders to capitalize on the impending downward movement.
Entry Strategy:
A prudent entry point for this trade is near 1.72840. This level aligns with the anticipated reversal point, providing an optimal entry opportunity for traders seeking to capitalize on the projected Bearish momentum.
Stop Loss Placement:
To mitigate potential risks associated with adverse price movements, it is advisable to place a Stop Loss order near 1.72480. This strategically positioned Stop Loss serves to safeguard against unexpected market fluctuations while allowing for ample room for the trade to unfold in alignment with the projected analysis.
Take Profit Targets:
1. TP-1: 1.71175
2. TP-2: 1.70525
3. TP-3: 1.69869
Conclusion:
In conclusion, the technical analysis of GBP/CAD suggests a compelling Bearish trading opportunity, characterized by the formation of an Anti-Butterfly XABCD harmonic pattern and proximity to key Resistance levels. By adhering to the outlined entry, stop loss, and take profit strategies, traders can effectively navigate the market dynamics and capitalize on the anticipated Bearish movement with confidence and precision.
GBPCAD Local Short!GBP-CAD went up to
Retest a horizontal resistance
Of 1.7219 from where we are
Already seeing a bearish reaction
And I think that the pair will
Go further down !
GBPCAD Trading Plan - 07/Apr/2024Hello Traders,
Hope you all are doing good!!
I expect GBPCAD to go Up after completing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
GBPCAD-Long IdeaEntry : Price broke through the trend line and the swing high of trend line. Will be looking to take longs from the bullish zone if the market taps it.
Stop Loss : Will be below the swing low.
Take Profit : TP1 will be at the bearish Zone, TP2 will be at the High.
GBP CAD PRICE - BACK TO BALANCE LIQUIDITY gbp cad price will be back to support zone to balance liquidity take a short after breaking resistance zone as shown in the picture, follow for live updates @FOREX_TRADER_007
GBPCAD Short Term Sell IdeaH4 - Bearish trend pattern.
Currently it looks like a pullback is happening.
Until the two strong resistance zones hold my short term view remains bearish here.
GBPCAD Bearish Breakout!GBP-CAD was trading along
The rising support line but
Now we are seeing a bearish
Breakout so I will be expecting
A bearish move down after
The local rebound !
GBPCAD BUY AT MARKET PRICEI analysed it, There is buying opportunity for GBPCAD at market price and Price should go up
Buy 1.71000-1.71500
Target 1.73500
SL 1.70500
This is my analysis for GBPCAD
GBPCAD I It will pivot from support zone Welcome back! Let me know your thoughts in the comments!
** GBPCAD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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GBPCAD ANALYSISHello, traders here is an analysis of GBPCAD as you can see the market is on a bullish trend and now it has just reached its point/zone of resistance so now the question is it going up or down? I have got two options if the price can break the resistance zone and close above I am looking for buying/bullish trades and if the price breaks the trend line below and close below that support zone and trend line I will be looking for selling/bearish opportunities. So what do you think on this one traders?
Short Term Buy, Long Term Sell??Looks like we are finally breaking out of the 1.73 resistance that has been holding for just over 2 years now so what next?
Looking at the weekly chart buying momentum has slowly been building up around the 1.73 level evident with the lower highs forming and then last weeks huge green candle to push through and close above 1.73. (see daily chart below)
Short term I expect the market to have a quick dip back down towards or below 1.73 and then for buyers to comeback in to push price up towards the huge Monthly sell zone between 1.75 and 1.78. (see image below)
I will be looking for BUY signals on my TRFX indicator on the lower timeframe charts from 1hr up and then entering buying positions, I also may take a more aggressive approach and just buy the first short dip.
My target for the buy position will be above 1.75 though looking at the Monthly charts I can't rule out a spike up to 1.78 or even as high as 1.80.
Once price has entered the Monthly SELL/SUPPLY zone I will then switch my focus to look for evidence of buying momentum slowing down as I fully expect large sellers to start building into positions here and so will I.
As the image above shows each time the market has got this high since 2017 has been followed by large selling back down under 1.60.
Hope you enjoyed the read :)
GBPCAD Analysis on 3H ChartGBPCAD: Ascending Channel Offers Bullish Continuation
The GBPCAD pair has been trading within an ascending channel on the 3-hour chart, presenting a classic bullish continuation pattern. The channel is defined by two parallel trendlines, with the upper trendline having touchpoints at 1.7217 , 1.7291 , and 1.7335 , and the lower trendline with touchpoints at 1.7116 , 1.7190 , and 1.7217 .
Key Observations:
Bullish Structure: The ascending channel indicates a steady uptrend with the price making higher highs and higher lows.
Trading Within the Channel: The strategy involves buying near the lower trendline and considering selling near the upper trendline or holding for a breakout.
Volume: Confirm trades with volume, as rising volume on upward moves within the channel reinforces the bullish sentiment.
Trade Strategy:
Entry Point: A pullback to the lower trendline offers a potential entry point, with the recent touchpoint at 1.7217 serving as a key support level.
Stop Loss: A stop loss can be placed just below the lower trendline to protect against a potential breakdown.
Take Profit: Profit targets can be set near the upper trendline, with the recent high at 1.7335 acting as a resistance level.
Risk Management:
Breakout Potential: Be prepared for a breakout above the upper trendline, which could signal a stronger bullish move.
Market News: Stay informed about economic events that could impact the GBP and CAD, as these could lead to increased volatility or breakouts from the pattern.
Trade ideas are speculative and should be used in conjunction with a comprehensive trading strategy and risk management.
This trade idea is based on the ascending channel pattern, which is typically a bullish signal in technical analysis. It’s important to monitor the pair closely for potential breakouts or breakdowns that could signal a change in trend. Happy trading!
GBPCAD Analysis on Weekly Time Frame GBPCAD: Bullish Breakout from Rising Wedge’s Upper Boundary
The GBPCAD pair has made a decisive move by breaking out from the upper trend line of a rising wedge pattern on the weekly chart. This breakout is contrary to the typical bearish exit from a rising wedge and could signal a strong bullish continuation.
Key Observations:
Pattern Recognition: The rising wedge pattern is identified by converging, upward-sloping trendlines.
Bullish Breakout: The breakout above the upper trendline suggests buyers are in control, overpowering the usual bearish sentiment associated with this pattern.
Volume Confirmation: Look for an increase in volume to confirm the bullish breakout’s strength.
Trade Strategy:
Entry Point: Consider a long position following the breakout with confirmation from volume.
Stop Loss: Place a stop loss just below the breakout point to protect against a potential false breakout.
Take Profit: The profit target can be estimated by the height of the wedge at its start, projected upwards from the breakout point.
Risk Management:
Confirmation: Monitor for a potential retest of the upper trendline, which could now act as support.
Market Sentiment: Stay informed about macroeconomic factors that could influence the GBP and CAD currencies.
Trade ideas are speculative and should be used in conjunction with a comprehensive trading strategy and risk management.
This trade idea is based on an atypical breakout from a rising wedge pattern, which usually indicates bearish reversal. However, a breakout above the upper trendline can sometimes occur, especially in strong bullish markets, and may lead to significant upward moves. It’s important to validate the breakout with volume and other indicators for a robust trade setup. Happy trading!
