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Gbpcadlong

GBPCAD Trading Plan - 07/Apr/2024Hello Traders, Hope you all are doing good!! I expect GBPCAD to go Up after completing this correction. Look for your BUY setups. Please follow me and like if you agree or this idea helps you out in your trading plan. Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management. Market can evolve anytime, hence, always do your analysis and learn trade management before following any idea.
Long
by For3xScalper
Buy GBPCAD Channel BreakoutThe GBP/CAD pair on the M30 timeframe presents a potentially interesting situation with a bullish channel breakout pattern. Potential Long Trade : Entry: Above the broken resistance line of the channel, ideally around 1.7175 after confirmation. Target Levels: 1.7244: This represents the height of the channel, measured from the apex (highest point) to the base (opposite trendline), projected upwards from the breakout point. 1.7272: This is a further extension of the upside target, based on the height of the recent price movement. Stop-Loss: Place a stop-loss order below the broken resistance line of the channel, ideally around 1.7145. This helps limit potential losses if the price fails to break out and reverses downwards. Thank you
Long
by KABHI_TA_TRADING
2
GBPCAD BUY | Trading AnalysisHello Traders, here is the full analysis. The completed correction, recovery and formation, continuation of growth. GOOD LUCK! Great BUY 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 comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
1
GBP/CAD little retracement (3/26\2024)Hello Traders it looks like GBP/CAD is going to retrace partially it's last drop Zone 1.70900 is a very good place to jump for 1.722. We anticipate the price to move a bit down and then move toward 1.722. Any break below 1.70700 will invalidate our analysis. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Long
by fortunamarkets
Short Term Buy, Long Term Sell??Looks like we are finally breaking out of the 1.73 resistance that has been holding for just over 2 years now so what next? Looking at the weekly chart buying momentum has slowly been building up around the 1.73 level evident with the lower highs forming and then last weeks huge green candle to push through and close above 1.73. (see daily chart below) Short term I expect the market to have a quick dip back down towards or below 1.73 and then for buyers to comeback in to push price up towards the huge Monthly sell zone between 1.75 and 1.78. (see image below) I will be looking for BUY signals on my TRFX indicator on the lower timeframe charts from 1hr up and then entering buying positions, I also may take a more aggressive approach and just buy the first short dip. My target for the buy position will be above 1.75 though looking at the Monthly charts I can't rule out a spike up to 1.78 or even as high as 1.80. Once price has entered the Monthly SELL/SUPPLY zone I will then switch my focus to look for evidence of buying momentum slowing down as I fully expect large sellers to start building into positions here and so will I. As the image above shows each time the market has got this high since 2017 has been followed by large selling back down under 1.60. Hope you enjoyed the read :)
Long
by TheFxAce
3
GBPCAD Analysis on 3H ChartGBPCAD: Ascending Channel Offers Bullish Continuation The GBPCAD pair has been trading within an ascending channel on the 3-hour chart, presenting a classic bullish continuation pattern. The channel is defined by two parallel trendlines, with the upper trendline having touchpoints at 1.7217 , 1.7291 , and 1.7335 , and the lower trendline with touchpoints at 1.7116 , 1.7190 , and 1.7217 . Key Observations: Bullish Structure: The ascending channel indicates a steady uptrend with the price making higher highs and higher lows. Trading Within the Channel: The strategy involves buying near the lower trendline and considering selling near the upper trendline or holding for a breakout. Volume: Confirm trades with volume, as rising volume on upward moves within the channel reinforces the bullish sentiment. Trade Strategy: Entry Point: A pullback to the lower trendline offers a potential entry point, with the recent touchpoint at 1.7217 serving as a key support level. Stop Loss: A stop loss can be placed just below the lower trendline to protect against a potential breakdown. Take Profit: Profit targets can be set near the upper trendline, with the recent high at 1.7335 acting as a resistance level. Risk Management: Breakout Potential: Be prepared for a breakout above the upper trendline, which could signal a stronger bullish move. Market News: Stay informed about economic events that could impact the GBP and CAD, as these could lead to increased volatility or breakouts from the pattern. Trade ideas are speculative and should be used in conjunction with a comprehensive trading strategy and risk management. This trade idea is based on the ascending channel pattern, which is typically a bullish signal in technical analysis. It’s important to monitor the pair closely for potential breakouts or breakdowns that could signal a change in trend. Happy trading!
Long
by itmecrypomania
GBPCAD Analysis on Weekly Time Frame GBPCAD: Bullish Breakout from Rising Wedge’s Upper Boundary The GBPCAD pair has made a decisive move by breaking out from the upper trend line of a rising wedge pattern on the weekly chart. This breakout is contrary to the typical bearish exit from a rising wedge and could signal a strong bullish continuation. Key Observations: Pattern Recognition: The rising wedge pattern is identified by converging, upward-sloping trendlines. Bullish Breakout: The breakout above the upper trendline suggests buyers are in control, overpowering the usual bearish sentiment associated with this pattern. Volume Confirmation: Look for an increase in volume to confirm the bullish breakout’s strength. Trade Strategy: Entry Point: Consider a long position following the breakout with confirmation from volume. Stop Loss: Place a stop loss just below the breakout point to protect against a potential false breakout. Take Profit: The profit target can be estimated by the height of the wedge at its start, projected upwards from the breakout point. Risk Management: Confirmation: Monitor for a potential retest of the upper trendline, which could now act as support. Market Sentiment: Stay informed about macroeconomic factors that could influence the GBP and CAD currencies. Trade ideas are speculative and should be used in conjunction with a comprehensive trading strategy and risk management. This trade idea is based on an atypical breakout from a rising wedge pattern, which usually indicates bearish reversal. However, a breakout above the upper trendline can sometimes occur, especially in strong bullish markets, and may lead to significant upward moves. It’s important to validate the breakout with volume and other indicators for a robust trade setup. Happy trading!
Long
by itmecrypomania
GBPCAD Day Analysis | BUY SetupHello Traders, here is the full analysis. I think we can soon UP from this range! GOOD LUCK! Great BUY 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 comments. I will be glad 🤝 Patience is the If You Have Any Question, Feel Free To Ask 🤗 Just follow chart with idea and analysis and when you are ready come in THE GROVE | VIP GROUP, earn more and safe, wait for the signal at the right moment and make money with us💰
Long
by TheGrove
1
Buy GBPCAD Channel BreakoutThe GBP/CAD pair on the M30 timeframe presents a potential buying opportunity due to a recent upward breakout from a bullish channel pattern. This pattern suggests ongoing buying pressure and a higher likelihood of further advances in the coming minutes or hours. Key Points: Bullish Channel: The price has been trading within an upward-sloping channel defined by two converging lines: a rising support line and a rising resistance line. This ongoing uptrend signals continued buying pressure. Buy Entry: Consider entering a long position around the current price of 1.6995, which sits close to the channel breakout level. This could offer an entry point near a potential continuation of the upward move. Target Levels: Initial bullish targets lie at the resistance levels of 1.7071 and 1.7106, marking previous resistance zones within the channel. Stop-Loss: To manage risk, place a stop-loss order below the support line of the broken channel, around 1.6960. This helps limit potential losses if the price reverses and breaks back down.
Long
by KABHI_TA_TRADING
2
GBPCAD Analysis(➡️RR=2.00)🏃‍♂️ GBPCAD is moving near 🟡 Potential Reversal Zone(PRZ) 🟡and 200_SMA(Daily) . 🌊Regarding Elliott Wave theory , GBPCAD is completing the Expanding Flat(ABC/3-3-5) corrective structure. 💡Also, we can see Regular Divergence(RD+) between two Consecutive Valleys . 🔔I expect GBPCAD to rise to at least the 🔴 Resistance zone(1.715 CAD-1.700 CAD) 🔴 after breaking the Resistance line . British Pound/Canadian Dollar ( GBPCAD ) 4-hour time frame⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy; this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
1