Gbp-cad
GBP/CAD Bullish View by ThinkingAntsOk🔸 4H CHART EXPLANATION:
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🔸Price bounced at the Weekly Ascending Trendline.
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🔸It has broken the Descending Trendline and the Resistance Zone.
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🔸We consider that it has potential to make an upside move towards the Resistance Zone at 1.7700 .
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🔸 Will look for a lower timeframe bullish setup.
🔸 DAILY CHART ANALYSIS:
GBPCAD: Classic Retest Setup
GBPCAD has recently broken and closed above a key daily level.
now the price retests that level.
on 1H we see a falling wedge pattern.
bullish breakout of that (1h candle close above) will give us the perfect opportunity to catch a bullish movement.
initial target:
1.7245
safest stop is below the last low within the wedge.
if the market breaks the support of the wedge, setup will be invalid
GBP/CAD: Selling it for a 35-pip trade The pair is currently bearish with GBP being very weak today.
As you can see in my chart, price :
- broke the flag downards
- is below the daily pivot level
- is below all EMA
I am targeting the next fib level @ 1.70140 levels. It's a 35-pip trade.
Check out my past analysis!
Trade at your own risk
GBPCAD IS LOOKING BULLISH!Momentarily GC is looking to turn things around, and go towards the BULLS! I expect price to bounce off my bottom channel line. There are plenty of TP opportunities and a lot of pips to catch! I personally am going to set a buy stop order @1.69800 and set 2 TPs.
First TP: 1.70130
Second TP: 1.7000
GBP CAD - Short FlashcardGBP CAD - Short Flashcard
- Pair in bearish trend
- Pair presented with a double top which was stopped out after entry
- Then another double top appeared with divergence @ 68 and a false bullish channel
- Entry was on the second leg close below 13 ema
- Stop 15 pips above second leg high
- TP1 @ 800 ema
- Trade close @ RSI cross into volatility bands @ 32 and Signal line @ 110 pips
GBPCAD Short - FlashcardGBPCAD Short
Direction: - Momentum on the H4 was Bearish.
- The pair entered a Bearish OB (Orderblock) on the H4.
- The pair filled in the FVG (fair value gap) on the H4, before dropping.
- The pair retested the last level of the Bullish Cycle.
Entry: - M (Double Top) Pattern Formation.
- 13 EMA cross indicates probable continuation in drop.
- Divergence.
- RSI near the 68. This shows that the pair is near exhausted and overbought.
- Squeeze in volatility bands between the 50 & 68 indicate a sudden burst will occur downwards.
- MBL (Market Base Line) pointing down above the 50 indicates drop.
Exit: - 35 pip SL @ above high.
- 70 pip TP 1 @ 800 EMA, as this can act as a resistance point..
- 120 pip TP 2 @ just above YL.
GBP/CAD Daily Forecast (14th July)I see today's opportunity on a GBP/CAD hourly chart.
A trend line break has occurred, however, RSI is close to the oversold range. A retest may follow back to the trend line, after which another wave of sales may break through the key level as well. This is an excellent short option for us, with a pending order we can easily board when it happens.
GBP/CAD: Buying @ market, targeting confluence zone! The pair has broken its current arc to the upside which acted perfectly as a resistance since yesterday. This is showing buyers are coming in the game.
We have a confluence zone which is shown by the pink + white fibo levels (short-term and long-term price action). As you can see these levels match perfectly.
This confluence zone will be my target, around 1.71050 levels. It should attract prices since it's the reunion of 2 (or more) fib levels.
Trade at your own risk
GBP/CAD: Bearish sentiment - Looking for the short entry!Good Afternoon,
The pound has been bearish this week, if you followed my trades last week I made a healthy profit on GBPUSD trade which I was looking to hold longer however I closed that yesterday and banked some profits and will look to re-enter long if I see a new opportunity.
With this pair price seems to be moving south also - from the chart you can see the ascending trendline has been broken and if you look at the key S/R levels there could be some good points of entry for a short. I will personally wait for a retest of trendline and/or the support turned resistance above before making a move.
Let me know what you think!
Thanks!
GBP/CAD: Buying the pullback, but why? The current blue curve which supported the pair multiple times was broken on July 13, 2020.
I am buying the pullback assuming today's prices have reached a bottom.
As you can see, we have high volume node (HVN) around the 61.8% fib level which is my level of interest (target), suggesting it could face a strong resistance at these levels.
Trade at your own risk