GBPCAD SHORTGBPCAD is making correction to retest 1.72350 / 1.70600
big area but important i set target to area 1.71100 / 1.70750
hope i'm right
GBPCAD trade ideas
Forex Trading Signal: GBPCAD - BuyDear Traders,
We have a new trading signal for the currency pair GBPCAD. Based on our analysis using the EASY Quantum Ai strategy, we recommend the following trade:
Direction: Buy
Enter Price: 1.73023
Take Profit: 1.73253667
Stop Loss: 1.72858667
Our forecast points toward a bullish trend for the GBPCAD pair for several reasons. Firstly, the market has recently shown strong upside momentum, breaking through key resistance levels which now act as new support levels.
Additionally, there is positive economic data coming out of the UK suggesting an economic recovery, which provides strength to the GBP. On the other hand, the Canadian Dollar may face pressures due to fluctuations in oil prices and economic uncertainties.
Our EASY Quantum Ai strategy has thoroughly analyzed historical price patterns, economic indicators, and market sentiment, leading us to predict that the pair is more likely to move upwards in the near term.
Please ensure you set your Take Profit at 1.73253667 and Stop Loss at 1.72858667 to manage your risks effectively.
Happy trading!
Best regards,
Your Trading Team
GBPCAD bearish continuation Current Price: 1.73218
Resistance Zone: 1.7330 to 1.7350 (highlighted in red)
Support Levels: 1.7240, 1.7150, 1.7110 (highlighted in red)
Overall Trend: Downtrend on higher timeframes (1-hour, 4-hour, and daily charts)
Trade Setup
Given the bearish trend and the resistance zone, the plan is to enter a short position when the price confirms a rejection from the resistance area (1.7330 - 1.7350).
Entry Criteria
Short Entry: If the price fails to break above 1.7330 and shows signs of reversal (e.g., bearish candlestick pattern or rejection wick) around this level.
Targets
First Target (T1): 1.7240
Second Target (T2): 1.7150
Third Target (T3): 1.7110
Stop Loss
Stop Loss (SL): Above the resistance zone at 1.7360
Risk-Reward Ratio
Ensure the risk-reward ratio is favorable, ideally at least 1:2. For example, if the stop loss is 30 pips, the first target should be at least 60 pips away.
Trade Management
Initial Entry: Enter short around 1.7320 - 1.7330.
Stop Loss: Set at 1.7360 to account for false breakouts.
Take Profit:
Close a portion of the position at the first target (1.7240).
Move stop loss to breakeven once the first target is hit to protect against losses.
Close another portion at the second target (1.7150).
Let the remaining position run to the third target (1.7110) with a trailing stop to maximize profits.
Trading Signal for GBPCAD: BUYDirection: Buy
Enter Price: 1.73224
Take Profit: 1.73519667
Stop Loss: 1.72888667
We recommend entering a Buy position for the currency pair GBPCAD at the price level of 1.73224 , with a Take Profit set at 1.73519667 and a Stop Loss at 1.72888667 .
This forecast is based on an in-depth analysis conducted using the EASY Quantum Ai strategy. Several indicators suggest a positive move:
1. Fundamental Analysis: The British Pound has shown resilience against the Canadian Dollar due to stronger economic data from the UK, including recent GDP growth and positive employment figures. Conversely, Canada's economy is facing pressure from declining oil prices, which negatively impact the Canadian Dollar.
2. Technical Indicators: Our analysis shows a bullish trend in the GBPCAD pair, confirmed by moving averages and the Relative Strength Index (RSI) signaling a potential upward movement.
3. Market Sentiment: Current market sentiment has been favoring currencies linked to stronger economies, and the UK is demonstrating robust economic recovery.
Please execute this trade with due diligence and ensure you monitor the market for any sudden changes that may affect this signal.
Potential gartley on gbpcad Currently seeing Gcad in an accumulation phase from B to C leg which I’m ideally looking to take shorts from C to the harmonic kill zone
Paytience pays
Letting the market setup the play
GBPCAD I Long opportunity from bottom of the channel Welcome back! Let me know your thoughts in the comments!
** GBPCAD Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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Thanks for your continued support!Welcome back! Let me know your thoughts in the comments!
GBP/CAD BULLS ARE STRONG HERE|LONG
Hello,Friends!
GBP/CAD pair is trading in a local uptrend which know by looking at the previous 1W candle which is green. On the 9H timeframe the pair is going down. The pair is oversold because the price is close to the lower band of the BB indicator. So we are looking to buy the pair with the lower BB line acting as support. The next target is 1.742 area.
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GBPCAD is BearishA matured bearish RSI divergence on four hourly time frame is playing out as the price has broken previous higher low and printed a lower high. If bears remain in control we could see further downside in price action. Targets are mentioned on the chart.
SELL IDEA GBP/CADWe can expect a sell reaction from the specified resistance zone. Because there is another untested supply zone above this zone, an entry trigger is required.
GBP/CAD Potential ShortHi Traders.
We see this pair is getting more and more bearish.
We see clear impulse and correction phases.
Right now we are in a smaller correction, when we see a breakout from the current structure
we can expect more bearish movement
GBP_CAD NICE BREAKOUT|SHORT|
✅GBP_CAD is going down
And the pair broke the
Key horizontal level of 1.3750
And the breakout is confirmed
So we are bearish biased
And we will be expecting
A further move down
SHORT🔥
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BULLISH SCENARIOIn our previous analysis, we anticipated a triangle correction but the market went for a clear Zig Zag, we think that the correction is done and ready for the uplift. Until then, we're bullish on this instrument.
GBP-CAD Bearish Breakout! Sell!
Hello,Traders!
GBP-CAD broke the key
Horizontal level of 1.7354
Which is now a resistance
And the breakout is confirmed
So we will be expecting a
Further move down
Sell!
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Check out other forecasts below too!
GBPCAD continuation of a developing down trendPrice action on this pair is very similar to what I see in AUDNZD, I have already posted about that (see link attached).
Here too I am expecting a small retracement, either to the nearest resistance (1.7330) or the 50-61.80% retracement area. I will be monitoring PA if this happens on a lower t/f to find some bearish evidence. Target can be above the next support as shown on my chart.
This is not a trade recommendation, it is just my analysis.
You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Anything can happen in the markets at any time. Please use sound money and risk management if/when you trade.
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Please comment and share your thoughts too!!
Buying GBPCAD on the H3 chart. Capturing a harmonic pattern on GBPCAD we can see the IM cloud behind it and a few levels of support. I think this will hit both TPs by Aug 19th 2024 gaining almost 400 pips.
GBPCAD About to test the 1D MA50. Sell opportunity.The GBPCAD pair is on the latest Bearish Leg of the underlying Channel Up (blue) pattern and is about to test the 1D MA50 (blue trend-line) for the first time since May 14. Once the 1D MA50 breaks, we expect a continuation of the Bearish Leg all the way to the bottom (Higher Lows trend-line) of the Channel Up.
Since 2023, -2.66% to -3.08% pull-backs have been common on this pair. As a result, we are looking towards the minimum -2.66% decline, which gives us a Target of 1.71500 and will make a technical Higher Low on the Channel.
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👇 👇 👇 👇 👇 👇
#forex #GBPCAD #Eliot#GBPCAD
#Sell
#4h
#Eliot #supply_zone
#The end of Elliott's fifth wave with the following confirmations:
Price reaching the supply area.
Divergence in the RSI indicator
Int:1.75765
Sl:1.76888
Tp1:1.73398 #r/r=1/2
Tp2:1.70100 #r/r=1/5
GBPCAD: Bullish Forecast & Bullish Scenario
The strict beauty of the chart is a reflection of the fierce eternal battle between the bulls and bears and right now I can clearly see that the bulls are taking over so we will bend to the will of the crowd and buy too.
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GBPCAD - New BREAKOUTHi Traders !
Wednesday 5 June, The GBPCAD Reached a strong resistance level (1.76267 - 1.75382).
Presently, The Price Broke the support level (1.74484 - 1.74776).
The support level becomes a new resistance level !
So, I Expect a bearish move 📉
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TARGET: 1.73670🎯
GBPCAD Price will most likely take out the Eql. tap into the DZ. collect Liquidity and continue its upward direction.
