GBPCAD on the 4h chart reached as expected the daily support at the 1.53500 area.
The price tested the area 2 times creating double bottom over the support and can now look for some short time retracement to upside even though the main trend remains bearish on the weekly timeframe .
How can i approach this scenario?
I will wait for the London market open and...
In the last couple of days, we have witnessed how price have been oscillating right around the major bearish trendline identified on the daily time as participants remain sceptical of taking a decision. In this video, I was able to illustrate how we can plan ahead of the new week to take advantage of any potential momentum building up.
Risk Disclaimer:
Margin...
Hello,Friends!
We can see that GBPCAD is about to fall
Based on the current price action
Overall, the market sentiment is bearish right now
And I can see smart money entering shorts
So we will sell too!
Like and subscribe and comment my ideas if you enjoy them!
GBP/CAD follows the correlation with the GBP/USD and after a retracement, coming from a big downtrend with a pullback and new downside, the price seems to follow the again same scenario shown n the last month with a new possible new pullback to the downside. Today the price had a reject on the dynamic trendline working like a resistance with a confluence of 61.8%...
The tradeWELL FX algo printed an entry-with-trigger on long GBPCAD on 08/01 with entry between 1.56667 and 1.56917. Initial target at 1.59838 with stop at 1.53496 trailing. I actually entered late and into the 1.575 resistance. Recent price action forming what appears to be a cup-and-handle with fairly distinct rounded bottom.
Counter-trend trade, so precarious.
We got the break out I was expecting and now I'm waiting for a lower time frame correction to continue the next impulsive move. Which means I'm bullish on the pair so looking for buying opportunities
Stay safe and trade safe!
Pair Name : GBP/CAD
Time Frame : 4hrs / Daily
Scale Type : Large Scale
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❗️The purpose of this analysis is to spread knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons
We seek to spread understanding rather than make money
➕ Key Technical / Long Side ( After Retest )
Type : Mid Term...
I'm waiting for a lower time frame correction to get the next impluse move. Which is I'm expecting a pump so let's get set for some buying opportunities
Stay safe
Easy breakout trade here managed to grab TP1/2 and now have SL to b/e and going to take it to the moon, well done if you managed to grab this setup when we posted it
This Is An Educational + Analytic Content That Will Teach Why And How To Enter A Trade
Make Sure You Watch The Price Action Closely In Each Analysis As This Is A Very Important Part Of Our Method
Disclaimer : This Analysis Can Change At Anytime Without Notice And It Is Only For The Purpose Of Assisting Traders To Make Independent Investments Decisions.
Based on this, we are preparing for two trading positions to buy, if the first level is broken, we are looking for a position at the second level, targeting 1.58000-1.58500.
![GBPCAD: BUY [GBPCAD]](https://s3.tradingview.com/5/5xrnHxhu_mid.png "BUY [GBPCAD]")
