The idea from couple of days go plays out nicely. Price starts dancing on H&S formation neck line. It's a good place to add to the short taken earlier (see the linked idea) anticipating a fall from here which might be substantial (1.93 - 1.94 is my target area). SL goes above the right shoulder.
On the Daily chart of GBPCAD we see a nice five wave structure from the 1.8147 area. That means that now we expect price to make a three wave recovery into red waves (a), (b) and (c). Waves (a) and (b) seems to be completed and now wave c) is in the making. Waves (a) and (c) consists out of five sub waves, while wave (b) has only three waves. That said wave (c)...
My daily outlook on GBPCAD is bearish, but I see one more bounce occurring before bearish PA continues. A bullish shark will potentially be completing at point 4 in a parallel channel. Traders who are short this pair, like myself, may think about taking profit in the PRZ and re-entering after this move is completed. Alternatively, this may be traded as a...
In the last week,short GBPCAD had some benefits, this week I decided to expand the size of the positions,and adjust the target to 1960.
Sterling has been on a monster tear after mixed employment data out of the United Kingdom. Averages earnings beat expectations of 2.6 percent, printing a 2.9 percent. However, the U.K. did see a rise in unemployment even as the unemployment rate fell a tenth-percent. Traders are looking to front from any potential talk out of the Bank of England (BoE) that...
GBPCAD has reached the top of the wave channel and started the decline after the 5 wave up move. The first down move is in 5 waves and has broken the previous 4th wave confirming the divergence and making it a qualified divergence. The retracement has since then reached around 50 to 61.8% levels. One can go short on this pair now and look for targets of with Equal...
Potential bearish butterfly pattern in a corrective wave. Entry Point: 2.6675 Stoploss: 2.08560 Profit Target: 1.9780
After the obvious MACD divergence, price fell through the uptrend line and took out a previous support level. Now it is not the time to short GBPCAD as I believe price will retrace to the area between the 38.2% - 61.8% Fibs (2.0388 - 2.0612). I am only interested in shorting this pair as price can continue going to the south without giving us an opportunity for...
My attempt to trade the trend down. ___________________ Money management of my trades. There are two targets: the first one is at least double of the target two (the farthest). The proportion is 2/1. So, 2 lots for target one and one lot for target two. Typically, when the target one is reached, the stop-loss of position for target two is put to breakeven.
The USDCAD pauses as crude gains over 20 percent from the recent lows, while having the best three-day gain in nearly 30 years. Upward momentum in crude prices will help the Canadian dollar rebound slightly, but the fundamentals still remain bearish. In all reality, $47 per barrel will not rid the bearish fundamentals within the energy space. While keeping it...
Bullish Flag at the TARGET! OUR LAST MONTHLY ANALYSIS (Click and Play) RESEARCH REVERSAL PATTERN (Click and Play) I do appreciate all views be it a like or comment, and if you subscribe to this analysis, you will receive all of our real-time update! Thanks! SignalSuisse www.nonsolotrading.com (Setup & Intraday Analysis)
why here is a nice opportunity for short? 1) WEEKLY resistance on 2.07082 and 2.0900 and price is reacting on that. (now is forming a weekly pin bar) 2) two AB=CD pattern comlete at that level. 3) 1.272 fibo extension resistance good time to short this pair for gaining about 1000 - 2000 pips !!!
I will be looking to short GBPCAD very soon. Price is approaching a major resistance area that confluences with an AB=CD pattern This is a big time frame chart. Profit area around 1.95
Hi all, Took this trade last night when price was near 2.0400 where the price was also bouncing off of. and was channeling on 15M. But breakthrough and trended upward. I was already in with my rules of Channel Breakout setup. GBP News went out during London session and boom, 170 pips when I woke up this AM. I advanced my stop loss near 2.0505 to lock in some...
Hi everyone in my opinion this is a valid pattern within a strucutre . Targets are highlighted on the chart Good Luck and lets see
I apologize for the disorganized appearance of this chart. The Red lines indicate times when the price reacted to the Fib Speed Resistance Arc. This blue line Represents a mirrored version of price action from mid 2004 to mid 2010. Due to its reactions to the fib levels in the recent past and the 10 year resistance level it is likely that GBPCAD does not have the...