Hello traders, Wave 5 is supposed to end at 1.71266-1.71580 zone. Then ABC Correction is supposed to materialise towards the support zone at 1.69870. Thanks.
Gbpcad H4 above 1.71057 Making it a new high in the market The structure is very much bullish so am Expecting a Retracement to that level and then we can target highs above
Hello Traders ! On Wednesday 27 Dec, The GBPCAD Reached a Support Level (1.67077 - 1.67633). The Price Formed a Double Bottom Pattern. Currently, -The Neckline is Broken. So, I Expect a Bullish Move 📈. ----------- TARGET: 1.71100🎯
Pair : GBPCAD ( British Pound / Canada Dollar ) Description : Completed " 12345 " Impulsive Waves and " ABC " Corrective Waves and making its Impulsive Waves. Bullish Channel as an Corrective Pattern in Short Time Frame wait for Rejection or Breakout. Strong Divergence in RSI
I am looking to get a good short position performance here from a 2hr supply zone!
Factors Strengthening GBP: Hawkish BoE: Recent hawkish comments from Bank of England (BoE) officials regarding potential interest rate hikes to combat inflation have bolstered the Pound. This has increased its attractiveness compared to the Canadian Dollar. Optimism on UK economy: Despite ongoing Brexit negotiations, positive economic data releases like...
- Bullish Trend - Dow theory (HH's , HL's) - Ascending Trendline - No Divergence - Buy Stop Executed for confirmation of higher high TC - 2
GBPCAD Sell Trade Idea The major resistance point of 1.71000 has already been tested by the market, and we will now see clear changes in case we find some price rejections over their major point of 1.7100-1.7123. Trade Setup Idea: GBPCAD Selling Zone: 1.7100-1.7123 Stop Loss: 1.71311 Take Profit1: 1.7068 Take Profit2: 1.7050 Take Profit3: 1.7020 Take Profit4:...
The market is currently assessing the critical resistance at 1.71000 following a breakout from the channel. Notably, the price has successfully breached both resistance and range zones. Anticipating a test of the support level, and potentially the lower border of the descending channel. A probable scenario involves a descent from the resistance zone due to a...
Hello traders, Wave 4 is supposed to end at 1.71024-1.71463 zone. Then wave 5 is supposed to materialise towards the support zone at 1.67050. Thanks.
On the monthly charts we have a bearish trend targeting the monthly low. On the weekly charts we have a bullish correction that has cleared a previous ineffeciency. On the daily we have a change of character indicating a trends reversal. However, on the lower timeframe we have a bullish correction. On the 4 hour we are awaiting a change of character to signify a...
After printing HH and HL on bullish trend on 1H Time Frame. A significant bearish divergence is visible on the RSI indicating the beginning of a bearish trend. and Head & Shoulder Pattern is also forming on the top. Sell stop should be place under the Neck line and wait for the breakout of the Neck line. Stop loss should be placed on the top at HH.
I have strategically entered a long position on the GBPCAD currency pair, driven by the price's recent encounter with a prominent demand zone. This decision is rooted in meticulous market analysis, where I have carefully identified favorable market trends and key indicators signaling the potential for upward price movement. By capitalizing on this opportune...
Here is our detailed technical review for GBPCAD. Time Frame: 9h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 1.704. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all...
Hello Traders, here is the full analysis. Watch strong action at the current levels for SELL . GOOD LUCK! Great SELL opportunity GBPCAD I still did my best and this is the most likely count for me at the moment. Support the idea with like and follow my profile TO SEE MORE. Traders, if you liked this idea or if you have your own opinion about it, write in the...