GBPCAD – New Week Analysis – 29-Mar-21
📉 SELL ZONE – 1.73673 to 1.74173
🔷 Take Profit 1 - 1.73473 (20 Pips)
🔷 Take Profit 2 - 1.73173 (50 Pips)
🔷 Take Profit 3 - 1.72673 (100 Pips)
⛔ Exit / SL - 1.74673
Gbpcadshort
Possible sell setup for GBPCADWill be looking at this pair next week and what will happen at that support level.
SELL GBPCAD1. Price is trading below the 50 EMA on D1
2. Price is forming lower highs and lower lows
3. Price pulled back and retested the 50 EMA on the H4
4. Price is testing a downward trendline
5. Price is testing a recent support
5 confluences that affected my Bias on this trade. Hence im SELLING GBPCAD
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GBPCAD Short - Price respecting dynamic resistance
- Bearish market structure, lower highs and lower lows
- Rejection of 61.8 fibonacci level
- 1:6.8 risk to reward (RR) on this trade, let's see how price action develops
GBP/CADshare you're toughts on this one
-- dont take it as financial advice im still learning and i can't predict the future no one can!! --
Short on PullbackLooking to enter shorts on the back of a broken ascending TL in confluence to the 0.618 fib retracement and previous area of S&R. Lowered risk on this order as we could see a breakout and shift in momentum (in which case I'll look to enter longs).
GBPCAD facing bearish pressure, potential for further downside!Price is facing bearish pressure as it continues to hold below the descending trendline resistance, in line with our bearish bias. We could potentially see a reversal at 1st resistance, which is in line with our 61.8% Fibonacci retracement, 50% Fibonacci extension and horizontal pullback resistance, and a further drop towards 1st support, in line with our 78.6% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support. Stochastics is also approaching the upper resistance level at 86.80 where it has reacted off before, in line with our analysis.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBP/CAD Is About To Be Smashed By Sellers 🔨🔨🔨💡 Trade Idea
📉 GBP/CAD | Sell Limit Order @ 1.7432
🎯 Target Profit 1.7310
🛑 Stop Loss 1.74933
❌ Do not risk more than 1% of your account on each trade
🙂 Good Luck !
Description:
The price was trading to the downside by posting lower lows and highs. Recently it posted a correction count in a form of a bearish flag pattern. We have an area of confluence between the 50% Fibonacci retracement level & the resistance around the 1.7432 USD level. This could lead to a move downward again to the 1.7310 USD.
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GBP/CAD | Potential Downward Movement 🔨🔨🔨Technical Analysis:
The price on the daily time frame is posting lower lows and highs which shows that we are in a downtrend. Lately, the pair posted a correction count toward the daily resistance. By looking on the lower time frame we can see that this correction has a form of bearish flag formation that coincide with a 50% Fibonacci retracement level. This could cause a move downward toward the 1.7310 USD mark.
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Trade Idea:
Sell Limit Order @ 1.7432
Take Profit @1.7310
Stop Loss @ 1.7493
Trade Safely 🙂
GBPCAD Short - Price respecting dynamic resistance
- Clear rejection of 61.8 fibonacci level
- Clear bearish market structure with lower highs and lower lows
GBPCAD Short with 3 confluences (Zero Indicators) H&SConfluences:
1. Daily Chart Trendline Breakout
2. Daily Chart Head and Should
3. Price is trending lower by creating lower highs and new lows
Entry: We will be looking to enter this trade towards the second half of this week. Will be holding this trade for about 4-5 day or until target is reached.
GBPCAD SELL ENTRYPrice has rejected the previous high of the day rejecting it 3 times and ultimately forming a range. The support of this range has been broken and retested, indicating that we are ready to take the sell. My target is the low of the day.
GBPCAD BUYHello traders
I believe GBPCAD is about to see quite an upward movement in a short while. We may reach the 1.747 area, probably touch 1.75 then have a pullback till the 1.74 area and continue in the buy.
What do you guys think?
Pound Canadian Short Position Trade - 2021The analysis is based off my unique approach to seasonal tendencies when Price is in a Ranging Market. Taking 2020 as the third year if we look back until 2017 you will notice how, during this period, the market has been repeating a pretty noticeable Fractal Pattern. Taking that into account l predicted a significant high to form on the Pound Loonie during First Quarter of 2021 which has happened so far.
I'm anticipating the low of this Year to come around Aug-Sep, sweeping the lows around the 1.67387 level and finally taking out the Low created in March of 2020.
The Canadian Employment Numbers came in positive for the Loonie @259.2K far larger than the forecast of 75.0K, this occurrence might just be the Fundamental confluence needed for my Technical analysis to pan out as anticipated.
GBPCAD - Continuation to the Downside (🔻 Short)Hi Traders
based on the current market structure I believe that GBPCAd will continue its drop to the downside. The resistance area (big grey box) did its job.
The setup sees a 1:3 RR. I see the stop nicely protected by different layers of structure. More conservative traders could stretch the stop further and go with a RR of 1:2.
As always, stop loss goes to breakeven as soon as price hits 1R profit.
Good luck :)
GBPCAD SELL SIGNALGBPCAD SELL SIGNAL (1: 3 R/R)
💲Entry - 1.75330
❌SL - 1.75727 (40 pips)
💰TP - 1.74130 (120 pips)
🚫Risk only 1% of your account🚫
GBPCAD SHORTIf you're looking for a Good chance to short GBPCAD, This idea might help you.
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