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Gbpcadlong

GBPCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of GBPCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 05 Oct M > Market is moving in a well respected horizontal structure (of course with minor breakouts). Price had dropped to monthly support in middle of the structure, faced rejection and moved up. W > On its way down price created an M formation and as expected price moved up to test the neck. D > Price has been creating HH and HL on its way up. It created a W formation and dropped till neck to complete the formation. As per COT GBP saw closure of Long and addition of major short positions bringing net position to -ve, whereas N-R saw closure of both Long and Short, Commercials saw addition of Long and closure of Short. BXY was weak for the said week but it improved its position last week. CAD saw closure of both Long and Short positions, N-R saw addition of Long and Short positions and Commercials saw closure of both Long and Short, confirming weakness of CAD for the said week. CXY gained strength last week. 4H > Price is not able to move above the resistance created by the neck. We need to wait for its break for confirmation of bullish move. Pair Correlation: GBPCAD has positive correlation with GBPAUD, GBPCHF, GBPUSD and GBPNZD and negative correlation with EURGBP.. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Long
by AP17FX
GBP/CADHello traders, a breakout of the wedge pattern will give us a good long entry. Take profit 1.7141 FX:GBPCAD If you agree with my ideas put a like and feel free leave a comment to link your trading ideas. Follow me for weekly analysis of swing trading support/resistance , fibonacci retracements, COT data. For informations feel free to contact me. Thanks for your support and let me know what you think! My analysis are for educational purposes only, and in no way represent a solicitation to invest in the financial markets. Compare them with yours and make a decision.
Long
by AidiDuhanxhiu
GBPCAD Analysis. What to expect???As of now, I am seeing a nice BULLISH opportunity for GBPCAD. We witnessed 2 rejection off 1.6985 price level signaling to us that BEARISH strength is weakening. Not only that, looking at price action BEARISH candles are not showing any form of BEARISH continuation. I will expect to see a 50.0 fib level retracement as of now where we can see price movement moving towards the ichi cloud. As of now, I am seeing a LONG opportunity but do look out where price heads towards ichi cloud. No direction is confirmed as of now till we see a clear breakthrough or price rejection off that level. 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!!!
Long
by YGForex
GBPCAD BULLISH TRENDHI, I THINK THAT GBP/CAD COULD BE HEADED TOWARD THE UPSIDE. THE PRICE IS OVEREXTENDED TO THE DOWNSIDE = RETRACEMENT/BULLISH TREND START. THE CANADIAN DOLLAR IS ALSO PRETTY WEAK SINCE THE BEGINNING OF JULY & I THINK THAT THE BRITISH POUND WILL REGAIN POWER THIS WEEK. THE H12 DEMAND ZONE IS ALSO LOCATED ABOVE A STRONG DAILY SUPPORT, THAT'S WHY I THINK TO WE COULD SEE A NICE MOVE TO THE UPSIDE FOR THAT PAIR. ON THE COMMITMENTS OF TRADERS REPORT, INSTITUTION ARE LONG ON GBP & SHORT ON CAD. CORBEAU
Long
by Corbeau_FX