GBP/CAD - Simple Break & RetestHere we have price forming a break and retest in an uptrend. We are long biased with stops slightly below.
Gbpcadlong
GBP/CAD WEDGE BREAKOUTHello Traders, after the breakout of the wedge pattern I opened a long position. 1st tp 1.76 2nd 1.77 ( Monthly Resistance )
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GBP/CAD - buying opportunity with strong GBP momentumGBP/CAD has been trading within a respected weekly trend channel since Late-2019. The last touch of this trend channel was on the lower boundary with current expectations now that price will return to the upper boundary. Price has been consistently trading above the 50 and 100 DAY EMA and the posting of an extremely bullish weekly candle last week means that we are looking for long positions this week.
With the current bullish momentum for the British Pound we are expecting at least a re-test of the strong resistance at 1.7718. If price holds above this level a good secondary target would be 1.8040.
GBPCAD - DieWe could potentially see GBPCAD declining aggressively now that it has gained liquidity after the resistance break and broken back into the ranging area. Let's see how this trade unfolds later on in the day, best of luck this week traders.
According to COT data source - 68% are short
GBP/CAD The price reacted perfectly between 38.2 % and 50 % of fibonacci by forming the cup handle. The levels of tp only drawn on the chart. Stop loss at sight.
Hello Traders,
if you agree with my ideas put a like and feel free leave a comment to link your trading ideas.
Follow me for weekly analysis of swing trading support/resistance , fibonacci retracements, COT data.
For informations feel free to contact me.
Thanks for your support and let me know what you think!
GBPCAD is approaching support | 31 August 2020Price is approaching our support where we could see a bounce above this level.
GBPCAD, daily timeframe, bullish flag pattern materializedHello my friends,
Another pair come to my screener and this one is one of the good pair to trade.
I got some confirmations for GBPCAD to take buy position.
1st confirmation is price breaking above the bullish flag resistane
2nd confirmation is price bouncing of conversion and base line of ichimoku
3rd confirmation is ichimoku cloud is green indicating bulls are in control off this pair
4th confirmation is parabolic SAR finally moved below the price after lasting for 3 weeks above the pair
I am going to add buy position to this pair, i took 1st buy position at 1.7345 from 2 weeks ago and still holding it.
It never hit my stop loss so i never close it.
Buy limit GBPCAD 1.7370
Stop loss 1.7200
Take profit 1 @1.7575
Take profit 2 @1.7950
RR ratio is 1 : 3.4
Risk only 1-2% equity
Good luck
GBPCAD ANALYSIS...MULTIPLE TRADE LEVELS??AFTER QUITE THE CHOPPY WEEK AND MOVEMENT IN THIS PAIR
OUR BIAS IS TO THE UPSIDE WITH SUPPORT AT 1.72500-1.73000 ZONE
HAPPY TRADING!
FX:GBPCAD
GBPCAD Updateprice in falling wedge and we are floating above support zone with good rejection from falling wedge ( we close above than still i add retest so this is just mirage for me )
added some entries at support 1.71950
GBPCAD Long Off of a Pull Back - Potential 300 Pip Move!4 Confirmations off this Trade
The 20 is Going up
The 200 is Below on Multiple Time Frames
And on the Currency Strength Indicator GBP is Stronger CAD Right Now.
GBPCAD Long termGBPCAD going to restest around the pink line, sell till Zone 4, consolidate for a long term buy with the formation of a cup - handle
Potential Massive GBPCAD Bull Run!Bouncing off of the 0.5 Daily Fibonacci level, GBPCAD is trading between major support and resistance zones. It is also respecting fibonacci levels on the hourly, and 15 minute timeframes, all with the same bullish momentum. In the very soon short term, I believe there will be a minor retracement to the 73750 level, and a continuation up to the 74217 level breaking the 0.382 Daily fibonacci level. Just an idea.
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