Here is simple trend continuation analysis on GBPCAD. Dependent on P.A. at the trend line we could look for a valid entry point and candlestick formation.
If however, P.A. breaks above the descending trend line price could rally all the way up to 1.8550. Either way there is a lot of pips here to bag.
Targets are bases on simple fibonacci levels and trend...
Ending Diagonal spotted on the GBPCAD. Another good indicator is the RSI. The RSI is making higher lows when price is making lower lows.
Ending Diagonals make you work for them. The safest way to trade them is to wait for a breakout and enter on a pullback using your own strategy.
Bearish trend has been continuing for a long time. Resistance level comes closer and closer to the support.
One day and one week RSI close to oversold. Strong structural level at 1.81902 which has been in place for almost half a year.
Follow of that bearish trend and if it doesn't break the existing trend and its resistance (red lines), then it's very likely...
Looking to short after a small retracement. This depends on what happens to the price over the weekend and where it looks like it will open. GBPs gapped open last weekend.
See my USD/CAD chart as well
Hints of reversal, price has been consolidated for a while so I use caution calling that a double top
Up coming trend line support
Monthly chart shows waiting for more confirmation of a trend reversal could offer a great trade
Patience
GARTLEY PATTERN
PAIR: GBP/CAD
TIME-FRAME: 1HR
TRADE: BEARISH GARTLEY PATTERN
Missed this opportunity to get short on the
Bearish Gartley Pattern. Good luck to the traders
that have spotted this and got on the move.
NOTE: These are potential trade opportunities. Please
re-analyse the trade before executing.
Star Prosper
Philip Stewart...
GBPCAD has broken put of the 4 month corrective structure signalling that it has ended and the next impulse has begun, price has broken out and is now retesting the previous structure presenting a perfect opportunity for long positions.
Bonjour,
The GBP has had a huge run but its come to a halt here lately. Is there a double top forming or are we seeing a new support area being established?
À bientôt,
Maxmilian DuPont
(www.myfxlifestyle.com)
Price broke the desc. TL
Made a 3rd bounce from the asc. TL
Bounced off of Major resistance
(Which is also the bottom of the weekly consolidation range price is now in)
2 Targets. 1 at top of range and one at next key res.
Setup reasons
1. support level has been touched and bounced
2. price has left a pin bar to signal a reverse
3. bullish candle show a change in momentum
4. bounce of long term strong trend line
GBPCAD had strictly breakout the support level on day chart and week chart. It may go up to test resistant level (previous support) or not, but I will keep looking for high probability short breakout on lower time frame based on MA and trendlines until price reaching next support level. It's a star trading pair for trend traders in this week.
Hi guys, just sharing my idea and seeking for advice too. As i see it ( you might not see it as i do ) we should expect some retracement of the major up trend that this pair is having. To justify that we have price going below 200ema, break of previous structure, and a possible head and shoulders pattern, our target could be 0.5 retracement, and zone of support...
