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Gbpcadlong

For the week of 21 Feb. GBPCAD – Bullish above 1.6990 This pair has been knocking on 1.7280 since end Dec 2021. You can see 3 failed attempts to close above that level. However, the recent (4th) attempt recently did succeed and it managed to close above that area and managed to hold its position on Fri this week. The pair now appears to be slightly bullish and, in my opinion, we will see 1.7570 over the coming 2-3 weeks. I am looking for a small pullback to the 1.7280 area and a bullish signal on either the D1 or H12/H8 chart. I will be going long if that happens with stop below the recent low /200 dma. The Russia/Ukraine crisis is ongoing and it is possible that we see some significant volatility. This is why I think, we need to have such a wide stop. Even so, if price moves as I anticipate, we can still have a 1.8-2R trade. If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications. Always use sound money and risk management in all your trades.
Long
by Trading_Vista
GBP/CAD 4HR BUY AND SELL SET UP???Hi TRADERS this is my trade set up for the GBP/CAD for the new week ahead GBP/CAD We have two scenarios a possible breakout of the very strong resistance area and if it does break out will be a nice strong move higher, next scenario we get a good rejection of the resistance level and we take a sell clean crisp charts I hope it helps if you have any questions please private message me good luck for this weeks trading please follow like and comment thanks
by Costy13
3
GBPCAD | Important LevelGBPCAD has approached to important level after bouncing from 0.5 fib level. Two senario can play form here; a) Bullish: It is looking in good momentum after bouncing from fib level 0.5. It will likely to break the overhead resistance. One can take long position on break of horizontal area. b) Bearish: Last time price hit from the same zone and took correction of around 300 pips. If it gives bearish sign then one must look to short it. Trade your levels accordingly.
by JustTradeSignals
1
GBPCAD Approaching Key LevelGBPCAD is approaching the 2022 High made on Jan 6th. Price action around this level should determine the short term direction for us to jump in. A breakout above this level could give us a nice risk/reward trade to follow the trend and ride it up to the next key level of resistance, an area that seemed to see a magnetic effect followed by reversals a number of times in 2021 (5+ times depending on how you measure this). Alternatively, the Jan 6th high will be a level a large number of traders will be watching and price is starting to look a little overextended. This previous high could easily act as resistance and see a nice reversal. Price has been respecting an upward trendline and trading steadily above the 20 SMA/EMA, but price has seen a couple of spikes toward this high followed by quick rejections, and momentum for GBP appears to be weakening, as can be seen in the Currency Meter indicator where average GBP RSI is decreasing. An aggressive short entry would be a close below the rising trendline. With closes below the SMA/EMA being more conservative short entries. If price reverses I expect to see a temporary pullback not a full reversal, with expectation of a higher low on the Daily. Overall I'd be happier to see a reversal and take a short, but I'll be watching price action and will jump into a long if we see a strong push and hold above the previous high with broader strength from GBP and broader weakness from CAD on the Currency Meter.
by HayeTrading
18
Trading Idea Regarding GBPCADThis pair is going to bullish right now Technical Analysis: 1-Break Out Range 4hour Time Frame 2-Break out Downtrend line 4Time Frame 3-Break out Strong Resistance on Daily Time Frame 4-Moving towards top of the range on weekly time frame after retesting previous resistance level Sentimental Analysis: 1-USDCAD has broken the downtrend line and is adopting bullish behavior (CAD weakness) 2-CADJPY retest the falling resistance and new lower low is expected(CAD weakness)
Long
by Inzamam9012
Potential Shark Forming 🦈🦈GBP/CAD - Potential Shark forming with nice bullish priceaction. Price is currently sitting at the .886 of the 1H bullish pullback and I'm expecting order flow to continue and break the highs! Let me know your thoughts! ** Disclaimer *** These ideas I never trade until the end target with my initial lots, I focused on high probable entries with higher lots and use a specific partial taking strategy giving me a very high win rate and take most of my profits very early, I only leave a small % of my capital to run the entire trade. On the flip side im constantly monitoring LTF momentum and will close early if things change, these analysis's are for research purposes only.
Long
by benalistarfx