GBPCADChart analysis GBPCAD on the 4 Hours time frame.
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GREEN - TAKE PROFIT
YELLOW - ENTRY
RED - STOP LOSS
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Gbpcadlong
GBPCAD, daily timeframe, 5th wave of Elliott WaveHello my friends,
Today i noticed some good setup from GBPCAD. Previously this pair make an inverted shoulders head pattern and then push straight to the upside for 700 pips in 2 weeks.
I tried to fit some fibonacci tools into it and count the waves according to Elliot Waves principle. Surprisingly, it looks like this pair just finished with the 4th Wave.
Wave-4 is the shortest wave and usually it stopped at 38.2 fibonacci retracement.
We could possibly see wave-5 from this point onwards and usually it ends at 127% fibonacci retracement of Wave-4
Wave-4 could never touch the area of Wave-1 so we could use stop loss a little below Wave-1. In this case, my stop loss is at 1.7200
Buy GBPCAD 1.7395
Stop loss 1.7200
Take profit 1 @1.7675
Take profit 2 @1.7870
GBPCAD - Small ConsolidationWe are now caught in a phase of indecision, I have illustrated the potential next moves depending on which way the pair decides to break out.
Personally I am more in favour of the bearish set-up as it will provide a better risk to reward trade but I am prepared for the breakout either way.
Remain patient and strike when the market shows you the direction it wants to go in.
Breaking the neck line We crossed the neck line today , 1.7650 is an expected target & it's a strong resistance also.
GBPCAD Long Setup - Daily Time FrameGBPCAD Long Setup
- Watch for Breakout and end of the Descending Channel to go long.
- Breaking down the trend invalidates the Buy setup.
GBPCAD long wayI expect it to start moving up from the support zone, I have 2 targets
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GBP/CAD going higher💡Hello traders,
Hope you all have a fantastic day !
I would appreciate any likes and follows from this idea, that would encourage me to publish more ideas and analysis.
GBP/CAD has been broken through all major resistances and now will look for new highs.
Let us know what you think about this idea.
Trade safe !
GBPCAD and Buy Area (28/7/2020)Please fill the lines..!
Note!
Cancel/pending plan few minutes before news! (Medium/high impact news)
Decide your target, manage your risk..!
Turn off your PC..! Let your choice running..!
Disclaimer
The content on this analysis is subject to change at any time without notice, and is not provided for assisting traders to make decision.
GBPCAD Long Trade PlanHello traders, here is the analysis for GBPCAD. NOTE please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.
GBPCAD bounced from support, potential for a further rise!
GBPCAD bounced off 1.70845 where it could potentially rise further to 1.73784.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
GBPCADtake every trade on your own responsibility
we will get 70 pip target out 150 if every thing come in our favor
GBPCAD reaching support, potential bounce | 27 July 2020 Price is approaching support where we could see a bounce above this level.
GBPCAD to climb from upside confirmation, potential bounce!
GBPCAD to climb from its upside confirmation at 1.71889 where it could potentially bounce further to 1.75765.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
GBP/CADPersonally for Gbp / Cad I think it will break through and go to fill out the form above so we are just waiting for it to break through to daily and get into a safe long term.
GBPCAD Bullish setupGBPCAD broke the value area last week and for the coming week i'm expecting to see this pair move higher.
Ideally start buy entry around 1.71300 area target 1.72000 TP1. will wait for another confirmation if the price managed to stand above 1.7200 if yes then we are heading TP2 around 1.74560 areas and finally TP3 at 1.76200 area.
Good Luck & Happy trading !
GBPCAD BULLISH!!!GBP/CAD has broken the wedge that i had analysed on my last idea and is heading towards a resistance. It is currently overbought so possible drop back down and pull back to resistance. Possible short and long entries.
GBPCAD LONG- Failed to make lower lows
- Rejection of the 0.786 FIB
- Currently sitting in the golden pocket area of the FIB
- Failed to close below the 50MA on the daily and weekly
