GBPCADThe market has reversed from strong weekly support in 4 hrs. we took this trade so soon because of some candlestick pattern in the higher timeframe. If stop hits then we will look for another entry.
CADGBP trade ideas
GBPCAD | Bearish WedgesGBPCAD Forecast: We will take a short position @ 1.7090 and collect profit by 1.7070, 1.7030 & 1.6940 by risking 1-3%.
Tips: Keep trailing your SL after 20+ Pips to lock your profit.
Many confluence confirmed: Downtrend.
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💡Don't miss the great buy opportunity in GBPCAD Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.6950).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPCAD is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 61.
Take Profits:
TP1= @ 1.7122
TP2= @ 1.7197
TP3= @ 1.7269
TP4= @ 1.7355
TP5= @ 1.7442
SL= Break below S2
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GBPCAD OUTLOOK SHORT TERMGBPCAD TARDING AT 1.7508 LOW RISK HIGH REWARD IF SELL AT CMP ....STOPLOSS 1.7565....TARGET MIN 200 PIPS.
GBPCAD - Expecting break at resistanceOne can easily observe that the price resisted at the same place from 2017 and it cannot break the resistance expect one failure attempt.
One can expect the price to take support from the trend line and break the resistance in the middle 2021.
LOOKING FOR SELLS ON GBP/CAD Looking at gap/cad we can see that on the long term trend we can see we have been in a range for around a year we can see this on weekly and daily
chart so now we can see we have taken out some liquidty at the top side and we do have a gap on the currency pair which is lower around the 1.68900 but firstly we have to break the 1.72 level I do think we will at least go down to the 1.72 area if broken our next target can be 1.70 then after that we can target the lower gap on the currency pair
We do think that the bullish run in gbp pairs could be over for a bit as we have seen. most gbp pairs fly up from the start of the year I do know believe we can see a pullback meaning all gbp pairs could sell off and out of all of them I think gbp/cad is looking to be like a really nice sell so lets wait and see during the week I will look for a sell down to the 1.72 region
TARGETS :
1.72 = key level of support
1.69 = gap fill currency
I will be looking for sells from a better price
GBPCAD - The script will go further higher if checks the 1.58522GBPCAD - The script will go further higher if checks the 1.58522
GBPCAD : Looking for short opportunity!GBPCAD is looking for short opportunity & has the chances to move to the downside & to make some decent profits.
💡 Don't miss the great sell opportunity in GBPCADTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.7785). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPCAD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 46.
Take Profits:
TP1= @ 1.7650
TP2= @ 1.7585
TP3= @ 1.7480
TP4= @ 1.7350
TP5= @ 1.7185
SL: Break Above R2
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GBPCAD at resistanceMuch time has passed but GBPCAD failed to break resistance
So I am betting on the very short term, downside movement for this pair
I personally book only 10 pips profit
Lets see....
