gbpcad
GBPCAD is in a bullish continuation, targeting the previous high's liquidity. It’s expected to react at the 1-hour order block, aligning with the 50% Fibonacci retracement level. This zone could either propel the price higher if buying pressure continues or face resistance from sellers re-entering.
CADGBP trade ideas
GBPCAD: Consolidation and Bearish TrendGBPCAD is currently moving sideways within a broad horizontal range.
After testing resistance, a head and shoulders pattern has appeared on the price chart.
I expect the consolidation to continue, potentially resulting in a decline toward the support level of the range. My target is 1.7909.
GBPCAD: Consolidation & Bearish MovementGBPCAD is currently trading sideways in a broad horizontal range.
Following a resistance test, a head and shoulders pattern was formed in the price chart.
I anticipate that consolidation will persist, leading to a potential decline towards the range's support level. My target is set at 1.7913.
SELL GBPCAD for bullish trend reversal STOP LOSS : 1.8148SELL GBPCAD for bullish trend reversal
STOP LOSS : 1.8148
Regular Bearish Divergence
In case of Regular Bearish Divergence:
* The Indicator shows Lower Highs
* Actual Market Price shows Higher Highs
We can see a strong divergence on the MACD already and There is a strong trend reversal on the daily time frame chart.....
The daily time frame is showing strength of trend reversal from this level resistance so we are looking for the trend reversal and correction push from here .....
TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything
Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
GBPCAD TFGBPCAD BUY
The market trend is bullish on the daily chart. A new high was made on October 29, and today, the market is retesting the last resistance, which we now consider as support.
1 Hour:
The market has formed a double bottom trading pattern, and its neckline has broken to the upside. We will take a trade on the retest.
ENTRY 1.80246
SL 1.8000
TP 1.8045 & 1.8105
GBPCAD= SellPrice has completed a 5 wave structure, making a contracting flat in between. We are also seeing a reaction at the Daily supply zone which seems to be holding thus far.
Either the price will reverse at the trendline to continue to the upside or we have a nice break to the downside. Time shall tell.
Lets see how this one goes.
14-10-2024 _ Short Term Bullish Idea _ EURCAD H41. Price is moving in a Rising Channel.
2. Price is above 200 Moving Average.
3. Strong impulse to the Upside breaking last LH resulting in Convergence.
4. Pullback expected to the support zones followed by continuation to the Upside. Actively look for BUY Setups.
5. 180 - 225 pips move expected.