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Gbpcadsetup

GBPCAD 240MOnce price reaches the third red line down, it is likely to drop fast, as in a full momentum completion. This 4 hour setup will probably make a jump down before many have time to enter, so putting entry short lower on my projection to account for opening volatility if there is any. It`s possible to break this down further on the 1H and 15M chart, but that would be for more precision entries, watching price all day kind of thing, which is useful, but not necessarily needed. A lower time frame entry might decrease stop value but could also stop you out before the trade has time to work out.
Short
by TrapReversalTrading
FOLLOW ME: GBP/CAD Short OpportunityGBP/CAD is currently at the top of a bullish channel and it appears that it's time to short (at least in the short-term) or at the very least it's time to exit longs and wait for re-entry. Check out my other GBP posts that should be up within the next few minutes. They are showing the same thing! COLOR KEY (which time frame each markup is based on): RED - Monthly ORANGE - Weeky GREEN - Daily AQUA BLUE - 4H PINK - 1H LIGHT BLUE - 15M PURPLE - 5M Feel free to leave your thoughts in the comments below! Make sure to BE RESPECTFUL OF ALL COMMENTS so that we can utilize this platform to help each other and to build each other up! After all, we're all here looking to build our wealth so let's do that with a unified spirit. :)
Short
by Jabest
1
GBPCADeverything gets the meaning when is drawn. can u see that red B wave and look how complex corrections can become. on the next wave down that big diagonal is the third wave and now its making 4th wave. due to the shortness of the 2nd, 4th will be longer speaking of time. (from my observing 2nd and 4th are equal or inversely proportional) so the drawn form of 4th is taken as most probable given the structure so far... all tho as it looks now and may be finished as 4th part and rush down, but those supports down will most definitely stall it there whether for a correction for more down, or i vote for daily changing trend for new structure up, cose with that last part here the weekly structure will be finished. ;) if u understand what i mean... if ur interested for low time frame set ups, lets discus it here...
by sharing_is_caring
GBP/CAD W1 D1 LONG 10.9.2019Technical view On Weekly timeframe GBP/CAD has showed rejection from very important Supply area. We can see Pin bar was formed last week which we can consider as a buy signal, also we can see pin bar on daily chart. MA10 and MA20 have crossed each other on Daily chart which means there are changing in the trend in play. I will be looking for buy orders on smaller timeframes like H4 and H1 to join new uptrend. As u can see on given example area from 1.6800 to 1.6914 is next key Resistance area for GBP/CAD and there will be my TP. Fundamental view Monday GDP data for GBP was more better then expected which are very good numbers for Great Britan economy, and it seem Great Britan will avoid recession. So we could see recovery in GBP in further days and weeks.
Long
by NecP
1