FX:GBPCAD The weekly, 4h and 1h timeframes are bearish giving me a bearish bias. Price broke below 1.70666 4h/1h support area simultaneously breaking bullish structure of the 1h and 4h. I am waiting on a pullback to the 1.70666 area which will now be the resistance area to look for sells on gbpcad
4hr Trend, strong uptrend RSI(7) - just dipping through the 50 level Looking for bullish confirmation at 1.70561 to go long CAD CPI being released, negative inflation data can weaken the CAD
GBPCAD is trading in the ascending channel. It created divergence at the resistance level. The market rebounded from the psychological level at 1.71000 and closed below it. Price decelerated while approaching resistance, so most likely it will go down. ------------------- Share your opinion in the comments and support the idea with like. Thanks for your support!
Looking for short positions, it is a clearly divergence (RSI), as well as if we take now the position it has a good Risk Reward Ratio > 1.5
Hello traders, Wave 5 is supposed to end at 1.71266-1.71580 zone. Then ABC Correction is supposed to materialise towards the support zone at 1.69870. Thanks.
Gbpcad H4 above 1.71057 Making it a new high in the market The structure is very much bullish so am Expecting a Retracement to that level and then we can target highs above
Hello Traders ! On Wednesday 27 Dec, The GBPCAD Reached a Support Level (1.67077 - 1.67633). The Price Formed a Double Bottom Pattern. Currently, -The Neckline is Broken. So, I Expect a Bullish Move 📈. ----------- TARGET: 1.71100🎯
Pair : GBPCAD ( British Pound / Canada Dollar ) Description : Completed " 12345 " Impulsive Waves and " ABC " Corrective Waves and making its Impulsive Waves. Bullish Channel as an Corrective Pattern in Short Time Frame wait for Rejection or Breakout. Strong Divergence in RSI
I am looking to get a good short position performance here from a 2hr supply zone!
Factors Strengthening GBP: Hawkish BoE: Recent hawkish comments from Bank of England (BoE) officials regarding potential interest rate hikes to combat inflation have bolstered the Pound. This has increased its attractiveness compared to the Canadian Dollar. Optimism on UK economy: Despite ongoing Brexit negotiations, positive economic data releases like...
- Bullish Trend - Dow theory (HH's , HL's) - Ascending Trendline - No Divergence - Buy Stop Executed for confirmation of higher high TC - 2
GBPCAD Sell Trade Idea The major resistance point of 1.71000 has already been tested by the market, and we will now see clear changes in case we find some price rejections over their major point of 1.7100-1.7123. Trade Setup Idea: GBPCAD Selling Zone: 1.7100-1.7123 Stop Loss: 1.71311 Take Profit1: 1.7068 Take Profit2: 1.7050 Take Profit3: 1.7020 Take Profit4:...
this is my bullish technical idea and price action analysis . now wait for come previews support and resistance zone after trend continue to uptrend you can entry .because overall uptrend .you can see it .however this is my opinion only no more signal
The market is currently assessing the critical resistance at 1.71000 following a breakout from the channel. Notably, the price has successfully breached both resistance and range zones. Anticipating a test of the support level, and potentially the lower border of the descending channel. A probable scenario involves a descent from the resistance zone due to a...
Hello traders, Wave 4 is supposed to end at 1.71024-1.71463 zone. Then wave 5 is supposed to materialise towards the support zone at 1.67050. Thanks.
On the monthly charts we have a bearish trend targeting the monthly low. On the weekly charts we have a bullish correction that has cleared a previous ineffeciency. On the daily we have a change of character indicating a trends reversal. However, on the lower timeframe we have a bullish correction. On the 4 hour we are awaiting a change of character to signify a...