GBPCAD since the beginning of the week have been moving bearish and in respect to this, I plan to stick to the trend, the daily and the weekly also shows the bearish trend, and to follow this I expect this pair to retrace to the 50 Exponential moving average and we short to the 800 Exponential moving average.
#GBPCAD - H1
📣 Upon reviewing the 1-hour timeframe, with the break of the resistance level in the range of 1.7063, it is possible to initiate a buy position with a target of 1.7150.
⛔ Stop loss: 1.6980
On the other hand, with the break of the 1.6980 range, there is a bullish outlook for a price decline towards the 1.6900 range.
⛔ Stop loss: 1.7063
GBPCAD has started to show upward strength after bouncing at the 1.70 level, where a demand zone is located. The price underwent a significant structural change on the M15 timeframe yesterday, presenting a trading opportunity that could have yielded a 1% profit before the release of Canadian data. Personally, I did not execute that trade. Currently, it appears to...
GBPCAD price is in a correction range. The price has an opportunity to test the resistance 1.70880 if the price cannot break through this resistance. It is expected that there is a chance that in the short term the price will go down. Consider selling in the red zone.
>>GooD Luck 😊
❤️ Like and subscribe to never miss a new idea!
Hello Traders !
On The Daily Time Frame, The GBPCAD Reached a Strong Resistance Level.
The Price Formed an Expanding Triangle Pattern.
Let's Expect The Bearish Scenario:
If The Market Breaks The Higher Low (1.70595 - 1.70440) and Closes Below That,
We Will See a Bearish Move...
TARGET: 1.69320🎯
GBPCAD is bouncing off the pullback support and could potentially rise to the take profit level.
Buy entry is at 1.69935 which is pullback support level.
Stop loss is at 1.69038 which is an overlap support level.
Take profit is 1.71634 which is a level that sits above a swing-high resistance that aligns with the 78.6% Fibonacci retracement level.
High Risk...
🔸Hello traders, let's review the 8 hour chart for GBPCAD.
Speculative XABCD in progress, with PRZ/C set at 6880, so expecting more losses
in GBPCAD going into early Feb 2024.
🔸XABCD structure is defined by point X at 7240, point A at 6820, point B
at 7170, point C at 6890, point D/PRZ at 7360, currently most points validated,
point D/PRZ pending in early March...
Hello everyone ...
set your buy limit orders if price break our entry area then this idea will be invalid..
Use good trade management only thing important in Trading is how you manage your trade...
WHAT YOU THINK ABOUT THIS PAIR LET ME KNOW IN COMMENT..
.. good luck..
My dear subscribers,
My technical analysis for GBPCAD is below:
The price is coiling around a solid key level - 1.7006
Bias - Bullish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear buy, giving a perfect indicators' convergence.
Goal - 1.7099
My Stop Loss - 1.6963
About Used Indicators:
By the very...
Hey Traders,
Many are focused on US News that comes this afternoon.
Mostly, that's because a change in inflation can cause a large chance in the decision making for the Central bank in that economic zone.
The USD has persistently gained value over time, causing a sustained downtrend. With every pull up, comes a following pull down. The last being relatively...
Hello Guys,
This is one trade that has a high probability of hitting those targets.
If you want to know why, the monthly and weekly have printed a bearish structure, now the daily has aligned.
This is similar to the GBPNZD trade idea I shared last year (see below). Click on it to see how it played out.
Keep this on your radar.
Cheers,
Jabari
Possible Gbpcad Trade scenario enter with ltf confirmation if taken direct entry manage risk properly 1:2-3 RR
Indicator based SMC approach
Follow and like for more setups.
Avoid taking trades during high impact news.
