GBPCAD trade ideas
Short GBP/CADFall in this Fibo Cycle
First it retraced from 61.8%, then tested 50% and fell and now again testing 50% at 1.7400
If falls and breaks 1.7100 on a weekly closing:
T1 - 1.6800
T2 - 1.6600
SL - 1.7450
GBPCAD | BULLISH REVERSALFORECAST: Price rejects FIBO 61.8 and making bullish wedge which indicates a strong uptrend.
EMA: 800: Uptrend
EMA 200: Uptrend
Many confluence confirmed UPTREND
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GBPCAD at consolidation position strong pullback/DowntrendFORECAST: Price rejects previous high and heading towards resistance, small downtrend we can expect here.
100 EMA: Downtrend
800 EMA: Downtrend
Note: Scalp Trade can be profitable at the moment
Bear Flag - SellPrice is clearly forming a bear flag pattern.
Hence looking to enter short when the setup is ready
Simplicity is key to be successful in trading.
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Especial thanks to all those who DM me and commented on my analysis wanting to know more about the trade.
GBPCAD Long at 200ema GC tried to break resistance at 200ema but failed couple of times. This time its making lower highs , so I would long it and catch the hefty breaout.
📚💰Head and Shoulders in GBPCAD - Learn More Earn More with US📚 LEARN MORE
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Head and Shoulders Definition:
A head and shoulders pattern is also a trend reversal formation.
It is formed by a peak (left shoulder), followed by a higher peak (head), and then another lower peak (right shoulder).
A “ Neckline ” is drawn by connecting the lowest points of the two troughs. Neckline support does not need to be strictly horizontal.
. This illustrates that the upward trend is coming to an end.
. When a Head and Shoulders formation is seen in an uptrend, it signifies a major reversal.
. The pattern is confirmed once the price breaches the neckline support
In this example, we can easily see the head and shoulders pattern.
How to Trade the Head and Shoulders Pattern:
ENTRY:
we put an entry order below the neckline.
TARGET:
We can also calculate a target by measuring the highest point of the head to the neckline.
This distance is approximately how far the price will move after it breaks the neckline.
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gbcadreason fib 764 confirmation for that is ma cross ,bb middle band support bounce ,trendline, normal support ,if this trade losses then the confluence of the daily is the reason
gbpcad free signalssorry for late post but enter it again in the retracement so it will reach that level
GBPCAD ANALYSIS, MAY START THE MONTH FROM 1.74 AREABritish Pound against Canadian Dollar pair, may see a bullish trend upto the starting of the month , it may start the month of October from 1.74150 area, concept of supply and demand supports the same..
