Downtrend confirmed for GBPCAD. We looking to see a trend continuation
TREND BREAKOUT + HEAD SHOULDER HEAD
GBPCAD has a rule symmetry wave at the wave 2. Look left, The Reversal was at 44.6 fibo. Thus, I predict GBPCAD will down with 5 waves to complete the Bat Harmonic. Tp1: 1.68219, TP2: 1.66660 Stop loss: 1.71882
The price made a triple top within the downtrend line on the daily chart. After it, it broke the consolidation and now came back for the retest, already showing signs that the sellers are coming back to the game. I`m gonna wait for a strong price action and then I`m going short.
The last top has reached the Zone of Daily wave Should to sell follow the Reversal signal (drop beyond 120 fibo Extension) Sell from the wave 2 to wave 3
GBPCAD is down trending due to printing LHs & LLs, and it is moving in a descending channel, recently price action seems to print a new LH as a typical counter-trend and has reached to upper down trend channel and then inner counter trend line has broken and pulled back to near it, also forming a Head and Shoulder pattern is possible. All in all this is an short...
GBPCAD will fall soon after hitting the Strong resistance line or after completing the harmonic pattern.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
H4: - Trend: Downtrend - Channel down - Testing support daily--> breakout and closed below --> Waiting pullback--> Given signal--> Sell ( Prior analysis GBPCAD www.tradingview.com )
H4: - Trend: Downtrend - Channel down - Testing support daily--> breakout and closed below --> Waiting pullback--> Given signal--> Sell ( Prior analysis GBPCAD www.tradingview.com )
GBPCAD accelerating in a multi-days bearish channel, with succession of lower top, i am expecting it to make a new low over the coming days, since momentum indicators are suggesting the view as well, if you have your trading strategy, look for short plays. Happy Trading.
GBP/CAD wasn't able to keep up with the bullish daily trend move and moved under the 50 ema once again. It is now not showing any good signs of support and is barely able to keep it's current level. It's making more lows. I expect a break below the current support zone to happen within the next 48 hours. A good move to keep an eye one. Happy trading! Follow your rules!
The bears are definitely in control of this market. Price has made its way back up to former support and can be now identified as resistance. What makes this setup so attractive is the fact that there is a "Shooting Star". With this retest we can be sure to enter short positions and ride all the way down to the 1.68000 area.
Hi Guys, If we Look at this chart, there seems to be a reversal at 1,8048 followed with a drop. Hence, i think we can start to short GBPCAD. Be aware that this chart still has an upward trend and if we draw diagonal line from the bottom to the top, I would expect some retracement period at 1,7410, so you can take some profit here. IF this this chart passes...
Here is the below chart GBP/CAD is on uptrend possibility, So there is a possibility for GBP/CAD Buy until price @ 1.77732.