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Gbpcadsell

GBPCAD, 4hr tf, sell Wave-3 extension waveHello my friends, Another plan for GBP crosses pairs. We got GBPCAD to trade as well for today. But i am still waiting for price to touch around 1.7200 before entering sell. I use a sell limit order for this pair because it might hit my trade when i was not watching it. As you can see this pair is bearish in my opinion. GBP is very fragile right now because there is fundamental Brexit issues. If we do an Elliott Wave count we could assume that we're now on Wave-3 extension. Inside this extension there is a good setup to trade as well. Wave-3 is not finished yet because we still got wave-iv and wave-v to complete this Wave-3. Wave-iv is on the process and might completed soon. We are going to use wave-i area as our stop loss because we're trying to use Elliott Wave rule for 4th Wave. Sell limit GBPCAD 1.7195 Stop loss 1.7255 Take profit 1.6925 (4.5R) RR ratio 1 : 4.5 Use only 1-2% risk Good luck Check my GBPAUD plan as well on the link provided below. If you find my post useful, give me a thumbs up and follow me for the next updates.
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by HayatoDragonFX
2
BEARISH POTENTIAL ON GBPCAD - RETEST?Hi Guys, This week we have this move on GBPCAD on our watchlist, Price has broken bearish on the 4hr as we can see. Price met a point of resistance ( roof of price) after its previous up move and is currently strongly sitting at point of support showing further bearish potential. We should look for a potential pullback to the broken point of previous support and now resistance. And if price does retest this zone, we may see the bears dominate this move.
Short
by Malika_Analysis
3
GBPCAD, 4hr tf, Shoulders head pattern to materializeHello my friends, Another setup for next week is GBPCAD pairs. Looks like GBP might go down a bit in the coming week as some of GBP pairs crosses making a bearish pattern. This GBPCAD clearly made a shoulders head pattern and price already broken below the neckline. We're now going to wait for a retest at 1.7350 area which the neckline of SHS pattern. Measured objective of this patern are 190 pips. I am not going to enter right away because it won't yield favorable RR ratio. Wait for price to retrace around 1.7350 and we will sell from there. That 1.7350 area not only serve as an area of confluence for resistance but also yielding a 2.5R sell setup. If price never retrace and contiue going down then we will skip this trade. Sell limit 1.7350 Stop loss 1.7420 Take profit 1.7175 (2.5R) RR ratio 1 : 2.5 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
GBPCADWelcome back guys Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. GBPCAD in a trend channel path, I think there will be chance for a sell entry because its touched the resistant line in the up trend STOP LOSS 1.74500 ENTRY POINT 1.73000 TAKE PROFIT1 1.72500 TAKE PROFIT2 1.71500 TAKE PROFIT3 1.71000 Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts. The information given is not Financial Advice. Please support this idea with a LIKE if you find it useful Wish you luck guys
by Bexi03
1
GBPCAD, 4hr tf, sell elliott wave 5th waveHello my friends, For today, i am gonna trade GBPCAD again. Previously i took +170 pips profit banking 5.6% profit from a sell setup that i shared at November 4th. This setup gonna be a continuation of previous wave analysis that i shared at October 30th As you can see, i expect price to go down again because we still on the 4th wave right now. Price could drop to around 1.7000 - 1.6960 which is around 170-210 pips drop from this point. This is also supported by the last few candles of GBPCAD showing sign of reversal. There is inside bar exactly at resistance and doji candles showing indecision. Sell GBPCAD 1.7170 Stop loss 1.7240 Take profit 1.6960 RR ratio 1 : 3 (3R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
GBPCAD, 4hr tf, sell the bearish engulfing rejectionHello my friends, Another setup for you is GBPCAD pairs. If you find this post useful, don't forget to give this post a like and follow me for my next update. As you can see there is a bearish engulfing rejection exactly at 1.7180 resistance. There is also descending trend line at this area so we could say this is an area of confluence. Previously i posted about GBPCAD bearish with elliott wave analysis Some friends might not able to catch those trade and being left out. Well, don't worry because this could be another opportunity to enter here. As for those who already enter this trade, then you could use this opportunity to add some more positions. Sell GBPCAD 1.7170 Stop loss 1.7240 Take profit 1.6960 RR ratio 1 : 3 (3R) Use only 1-2% risk Good luck Disclaimer : I sold GBPCAD from 1.7170
Short
by HayatoDragonFX
GBPCAD, 4hr tf, elliott wave analysisHello my friends, This is another setup before we close this month. This pair a little bit tricky to analyze because i tried analyzing it with Elliott Wave. As you can see there is a possibility that we're currently on Wave-3 and this wave is an extension. This mean Wave-3 consists of 5-3 waves as well. In my opinion we are on Wave-4 of this extension which is shown by the (iv) mark. Basic elliott waves rule is wave-4 never touch wave-1 area so we could use wave-(i) last point as our stop loss to invalidate our analysis. Sell GBPCAD 1.7290 Stop loss 1.7375 Take profit 1.6850 RR ratio 1 : 5.1 (5.1R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
4
GBPCAD, 4hr tf, double top pattern with ichimoku confirmationHello my friends, Another possible setup for GBP cross is GBPCAD pairs. I am looking for a sell position in this pair as my screener showing this pair could go lower. Some confirmations already met and we could try selling this pair on a retracement to 1.7100 area. Noticed also it looks like this pair making a double top pattern and i think price already breached the neckline once with a solid candle close below it on 4hr tf. Price then bounce from the neckline support but it only bounced a litte compared to the previous bounce. I think we could see price continue south soon so we will set a sell limit order to get a more rewarding RR ratio Sell limit GBPCAD 1.7100 Stop loss 1.7160 Take profit 1 at 1.7040 Take profit 2 at 1.6980 Take profit 3 at 1.6920 RR Ratio is 1 : 3 Use only 1-2% risk Good luck If you find this post useful please drop a like and follow me for my next update
Short
by HayatoDragonFX