GBPCAD trade ideas
GBPCAD Will Move Lower! Short!
Take a look at our analysis 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 1.807.
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 the way down to 1.791 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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GBPCAD-SELL strategy 12-hourly chartThe pair has moved a little lower, but is held up by the cross selling of GBPAUD, i.e. AUDCAD moved strongly higher due to ecenomic data release from Australia, which were positive outcomes.
For now, the strategy remains in SELL mode due to stochastic, SMI and MACD etc suggesting lower levels, and we are still overbought (reduced).
Strategy SELL @ 1.80550-1.8100 for a move to 1.7917 and lower.
GBPCADGBPCAD is in reversal mode.
Bearish divergence also shown in RSI.
We wait for further confirmation..
If price break the last price then we will execute trade.
GBP/CAD SHORT FROM RESISTANCE
Hello, Friends!
GBP/CAD pair is in the uptrend because previous week’s candle is green, while the price is clearly rising on the 6H timeframe. And after the retest of the resistance line above I believe we will see a move down towards the target below at 1.787 because the pair overbought due to its proximity to the upper BB band and a bearish correction is likely.
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Could the price reverse from here?GBP/CAD is rising towards resistance level which is a multi swing high resistance and could reverse from this level to our take profit.
Entry: 1.8094
Why we like it:
There is a multi swing high resistance.
Stop loss: 1.8242
Why we like it:
There is a resistance level at the 138.2% Fibonacci extension.
Take profit: 1.7912
Why we like it:
There is a pullback support level.
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GBPCAD Analysis - Bearish - Trade 06GBPCAD Analysis Overview
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1. Seasonality
GBP: Seasonality indicates a **sell** signal for GBP in the first week of December.
CAD: Seasonality suggests a **strong buy** signal for CAD.
Seasonality Bias: Sell GBPCAD
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2. COT Report
GBP:
COT RSI: 52 weeks at 30%, 26 and 13 weeks at bottom.
COT Index: 3-year at 50%, 1-year at 30%, indicating weak positioning for GBP.
Net Non-Commercial: Decreasing, showing a bearish sentiment.
CAD:
COT RSI: 52, 26, and 13 weeks at 20% and increasing, showing bullish momentum.
COT Index: 3-year and 1-year at 20% and increasing, aligning with a buy sentiment.
Net Non-Commercial: Increasing, with a positive bias.
COT Bias: Sell GBPCAD.
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3. Fundamental Analysis
Leading Economic Indicators:
GBP: Decreasing, signaling economic weakness.
CAD: Increasing, pointing to economic strength.
Endogenous Factors:
GBP: Decreasing, aligning with a sell sentiment.
CAD: Increasing, further supporting a buy stance.
Exogenous Factors:
GBPCAD exogenous signal indicates a buy CAD, sell GBP sentiment.
Fundamental Bias: Sell GBPCAD.
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4. Technical Analysis
RSI Divergence: Bearish divergence identified, indicating potential downside movement.
Breakout Indicator: A red arrow confirms bearish momentum on key breakout levels.
Resistance Zone: Price is currently at a strong resistance zone, showing rejection patterns.
Technical Bias: Sell GBPCAD.
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Final Bias: Sell GBPCAD
The alignment across seasonality, COT data, fundamental indicators, and technical analysis strongly supports a sell setup for GBPCAD.
GBPCAD Wave AnalysisGBPCAD price will move in a downward direction according to the price chart to complete wave E.
Enter the trade around price: 1.80422
Stop loss: 1.82041
Take profit: 1.74477
This offer has a risk/reward ratio of around 3.5
Make sure to involve less than 2-3% of your total capital and adhere to the principles of money management
This is just a suggestion for consideration
GBP_CAD MOVE UP AHEAD|LONG|
✅GBP_CAD keeps growing
A now we are seeing a bullish
Breakout of the key level
Of 1.8133 which reinforces
Our bullish bias and we will
Be expecting a further
Bullish breakout
LONG🚀
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GBPCAD - Long Market is forming AB=CD pattern
market is in accumulation phase, if it break the rectangle it can easily test the weekly strong resistance level
GBPCAD PLAYYED OUT AS WE PREDICTEDGBPCAD , did exactly as I predicted it. There no scam in the market. Just understand what the market is doing per time
GBPCAD bulls taking overAfter the bank of Canada cuts policy rates by another jumbo 50 basis points as expected.The market has re-traced to support zone at 1.79500 and the Bulls are taking over
Week idea for GBP/CADThe idea is that it is still bullish but it has to go down to lower point that's what I THINK will happen this week
Gbp/cad entry on buyTrend is up
Trend is oversold
Highee timeframe is up
It has made a double bottom
This trade would is a high probability set up
GBP/CAD correction after strong uptrendHi, dear investors our next opportuntiy we are looking into is GBP/CAD , as we can see it had a fantastic bullish trend and now it's time of a reversal because we got to the upper resistance level, so far the RSI has just began formulating descending channel after being over bought at 77 level.
Entry - 1.80560
Target 1: 1.79844
Target 2 : 1.79380
Stop Loss : 1.80950
Risk to reward ratio at the staggering 1:5!!!!
As always my friends happy trading!
P.S. If you have questions or inquiries about one of my existing set-ups or personal questions / 1 on 1 sessions consider joining my channel so you can follow up with me in private!
GBP/CAD ;Buy zone I'm looking for buys on GBP/CAD on this area because:
it's at the gold zone of the Fibonacci retracement
its where the trendline liquidity lies
it will be clearly over sold
overall trend is up
I would be looking for a confirmation though like double bottom or reverse head and shoulder.
it's a trade that I am also looking to scale in as I go into profit
