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GBPCAD trade ideas

GBPCAD BuysOn the monthly time frame, GBP/CAD appears to have tapped liquidity and is showing signs of reversing upwards, indicating a potential bullish trend. A rising trend line, respected since April, has been touched more than three times and is currently reacting positively on both the weekly and daily time frames. The last two daily candles have closed bullish, and today’s candle has already broken yesterday’s high. Additionally, the pair is sitting on a support level on the daily chart, further confirming bullish momentum. Given these factors, I’m confident in taking a buy position, targeting the previous high with a risk-reward ratio of 1:1.5, with potential for a higher high later.
Long
by chokambaya
GBPCAD BUY TRADETrend Analysis: The pair is showing signs of a potential bullish reversal. The price has recently bounced off a strong support level and is forming higher lows, indicating a possible uptrend2. Moving Averages: MA5: 1.7908 (Buy) MA10: 1.7912 (Buy) MA20: 1.7929 (Buy) MA50: 1.7972 (Buy) MA100: 1.8005 (Buy) MA200: 1.7997 (Buy)1 Technical Indicators: RSI (14): 63.239 (Buy) MACD (12,26): 0.003 (Buy) ADX (14): 32.014 (Buy) Williams %R: -13.123 (Overbought) CCI (14): 103.4106 (Buy)1 Support and Resistance Levels: Support: 1.7882, 1.7896, 1.7903 Resistance: 1.7916, 1.7923, 1.79361 Overall, the technical indicators and moving averages suggest a strong buy signal for GBP/CAD on the H4 chart. The bullish trend appears to be gaining momentum, with key resistance levels being tested.
Long
by Mansa_Musa_Capital
Butterfly Pattern StructureThe Butterfly Pattern is formed as follows: Point X: The starting point of the movement. Point A: The first peak or trough that the price reaches. Point B: The price correction from Point A, usually located around 78.6% of XA. Point C: The subsequent correction, which should be between 38.2% and 88.6% of AB. Point D: The final point, typically found within the range of 161.8% to 261.8% of BC. This structure allows traders to predict potential price reversal points at Point D.
by spacecraft
GBPCAD - Bullish Continuation SignalGBPCAD has been trading within a bullish channel on the weekly timeframe, recently awaiting key interest rate news to confirm its direction. The Canadian dollar saw a 25 bps rate cut yesterday, which has weakened it further, adding to the existing bullish momentum in GBPCAD. Technically, a Cup & Handle pattern has formed near a key resistance level, indicating potential for continued upward movement. A break above 1.78849 would confirm a bullish continuation, providing a favorable buying opportunity. It is advisable to place a stop loss at the previous higher low to manage risk effectively.
Long
by AnalytixEdgeByQasim
Falling towards 61.8% Fibonacci support?GBP/CAD is falling towards the support level which is a pullback support that aligns with the 61.8% Fibonacci retracement and could reverse from this level to our take profit. Entry: 1.7694 Why we like it: There is a pullback support that aligns with the 61.8% Fibonacci retracement. Stop loss: 1.7578 why we like it: There is a pullback support level that lines up with the 78.8% Fibonacci retracement. Take profit: 1.7868 Why we like it: There is an overlap support level. Enjoying your TradingView experience? Review us! Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Long
by VantageMarkets
A possible good sell on GBPCADTrend lines have a magical power to them. And this is a very very interesting chart, in my opinion, especially, for sell entries. Once again, yes, there is a massive up trend. I know. Any one can see that. But what about reversals, trend changes, pivot moves, etc. I believe trend lines and horizontal levels must be the guiding light for us on the tumultuous surface of the ocean of Forex trading. Yes, yes, yes, the price can go upwards from here on. Of course, yes, because it is GBP after all which is the queen of base currencies, I would say, but those trend lines have the magical powers to them. Remember that! Coming to the setup itself :-) if the price breaks below a trend line, espeically, on the lower time frame, a possible break out is probable, on the upside or to the lower side, whichever the case may be. On this chart, if the price breaks below a trend line, wait for it to go back up to it to retest it, and enter there. At the same time, the price can also bounce off the trend lines just like horizontal levels. Watch out for that as well. Risk is always there. Risk will always be there. Life is risky, as they say. You are not getting out alive, any way!
Short
by RiffatNadeem