GBPCAD formed H&S pattern on H4. It might still in the movements on the way upward to test the 2nd previous resistance and the price indicates, too. Maybe can find buy set up for intraday or scalping while in the move to the resistance.
GBPCAD is in strong bullish trend. As the market is consistently printing new HHs and HLs. currently the market is retracing a bit after last HH, which is also the 50% fib retracement level and local support as well. if the market successfully sustain this bullish confluence the next leg high could be 1.6850
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GBPCAD Channel: RED WK Pivot: RED AOB: EMA10 CON: SBB SELL Stop: 0.62878 Stop Loss: 0.63518 TP01: 0.62238 TP02: 0.60958 DWR present as a sell setup on 24 OCT, with Channel and Pivot are red bouncing off EMA10 However, trade is not taken/considered SPX500: SELL DXY: UNSURE OIL: BUY GOLD: BUY
GBPCAD is on a neutral 1D technical outlook (RSI = 54.553, MACD = -0.005, ADX = 25.095) as the price has been ranged between the 1D MA200 and the S1 level (1.65600) for the majority of October. If it closes a candle over the 1D MA200, we will buy and target the R1 level (TP = 1.73300), since the 1D MACD is already on a massive Bullish Cross. Until that candle...
Hello traders, have a good week. GBP/CAD analysis. The trend is down. Focus more on selling more. Be a friend of the trend. Good luck.
See picture for full analysis 1) but right now we have price reacting off of the monthly area of supply zone. 2) Weekly has shown confirmation and long-term position traders have potential short setup. 3) Or traders can consider using the weekly as the HTF supply and wait for new 2-4hr confirmation once price enters the HTF weekly supply.
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GBPCAD I believe that it will cool in these areas and we will be with the general trend
after breakout from big trend line before and after breaked small trendline we have short position with good risk to reward
GBPCAD Channel: RED WK Pivot: RED AOB: HL CON: SBB SELL Stop: 1.66067 Stop Loss: 1.66896 TP01: 1.65238 DWR present as a sell setup on 20 OCT, with Channel and Pivot are red bouncing off HL However, trade is not taken/considered SPX500: SELL DXY: SELL OIL: SELL GOLD: BUY
Price is falling to our buy entry at 1.6563, which is an overlap support level, aligning with the 50% fibo retracement and 61.8% fibo projection. Our stop loss is at 1.6474, which is below the 100% fibo projection. Take profit is at 1.6674, which is a swing high resistance level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of...
After price broke structure with momentum, it retraced while forming liquidity in the process. Price has now mitigated the supply that was left behind and is now potentially looking to target the weak low and trendline liquidity below
GBP USD Analysis Wait for the correction. I think it is an excellent buying deal
Hello traders! ‼️ This is my perspective on GBPCAD. Technical analysis: Here we are in a bearish market structure from higher timeframe perspective, so I am looking for short. I expect bearish price action from here as we can see that price filled the imbalance and rejected from bearish order block. Like, comment and subscribe to be in touch with my content!
A possible motive (impulse) wave is forming on GBPCAD with current ascending triangle pattern hinting for a possible advance towards next supply zone. Good opportunity for optimal RR ratio trades. I'm looking forward to catch the 3rd wave.