Rk the sniperUpdate of the trade
That i predicted earlier
Gbp cad for long
Sniper entry with fibonacci gold zone
It went over 1:20
GBPCAD trade ideas
inverse head and shoulders for GBPCADClean, clear, and perfect pattern, Inverse head and shoulders pattern. These are usually really accurate when you see them.
GBPCAD | 04.12.2024SELL 1.78500 | STOP 1.79400 | TAKE 1.77600 | Local correction moving from resistance level.
Bearish drop?GBP/CAD has reacted off the pivot and could drop to the 1st support which has been identified as an overlap support.
Pivot: 1.7923
1st Support: 1.7827
1st Resistance: 1.7999
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Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
GBPCAD: Important Breakout 🇬🇧🇨🇦
GBPCAD broke and closed above both a significant daily horizontal resistance
and a falling trend line.
The broken structure compose an expanding demand zone now.
The market has a great potential to continue rising.
Next resistance - 1.8
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Bullish momentum to extend?GBP/CAD is falling towards the support level which is an overlap support and could bounce from this level to our take profit.
Entry: 1.7856
Why we like it:
There is an overlap support level.
Stop loss: 1.7759
Why we like it:
There is a pullback support level that aligns with the 38.2% Fibonacci retracement.
Take profit: 1.8009
Why we like it:
There is a pullback resistance level that aligns with the 78.6% Fibonacci retracement.
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GBPCAD - Long TradePrice is moving in bullish trend with higher high & higher lows.
Entry will be at fib value 0.618 (1.78119).
Stop loss is below higher low.
GBPCAD Potential Longbroke out of resistance and done retesting. Should see movement to the upside but watch out for tomorrow's news. Looks like we got an inverted head and shoulder as well and neckline been broken. Lets see what happens.
#GBPCAD 1HGBPCAD 1-Hour Analysis
The GBPCAD pair is trading within a rising wedge pattern on the 1-hour chart, which is typically a bearish continuation or reversal signal. The narrowing price movement suggests weakening bullish momentum, creating a potential setup for a sell position if the price breaks below the wedge’s support line.
Technical Outlook:
Pattern: Rising Wedge
Forecast: Bearish (Sell Opportunity)
Entry Strategy: Enter a sell position on a confirmed breakdown of the wedge’s support line.
Traders should look for confirmation such as bearish candlestick patterns (e.g., a strong bearish engulfing candle) or indicators like RSI showing divergence or overbought conditions. Set stop-loss orders above the wedge resistance and target lower support levels for potential profit.
GBPCAD: Short Trade Explained
GBPCAD
- Classic bearish pattern
- Our team expects retracement
SUGGESTED TRADE:
Swing Trade
Sell GBPCAD
Entry - 1.7884
Stop - 1.7976
Take - 1.7717
Our Risk - 1%
Start protection of your profits from lower levels
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Gbpcad on a buying stateAfter a bullish engulfing candle on the weekly timeframe and a retest on the support area was successful we believe for a buy
Gbpcad on a buying stateAfter a bullish engulfing candle on the weekly timeframe and a retest on the support area was successful we believe for a buy
Gbp/CadThis is a clean example of price action and sniper entry
Fibonacci retacement
Area of interest
Breach / oversold trendline in an uptrend
Bearish drop?GBP/CAD is reacting off the pivot which is a pullback resistance and could drop to the 1st support which acts as a pullback support.
Pivot: 1.7851
1st Support: 1.7655
1st Resistance: 1.8006
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
SELL until quote 1.7600 => valid or not ?Hello my friends,
I want to come up with another trading idea but I need also your opinion.
I see a possible correction down until 1.7600 based on the previous rejections. What do you think about it ? Should it go further up until going down ?
GBPCAD Daily - ShortSuccessful test of the deviation failure level with a close below the close of the previous 3 days.
Price is likely to move toward 1.7480 and beyond.
Invalidation above the high of the breakout bar.
Downward continuation Pound Cad will continue to the downside if price action remains under 1.7800. A break above this mark and the bearish channel, may alter the selling momentum. Continued stability, under the above mark, the pair may likely drop and regain some bullish pressure on the nearby lows as support.
first red day on gbpcadafter 5 days of rise last week. we are finally seeing sings of a reversal. we got a first red day .
Scenario GBPCAD continuation update levelsAccording to the previous prediction, I correctly calculated the short position and today it is just a continuation of this previous analysis with an adjustment of the level and a small description of the whole situation. With my eyes, we see resistance here at the price level of 1.78590. If the market does not break through, a peak has formed here, which ends with a triangle. For me, if there are no news that would reverse the trend, this position is short from my point of view. There may be an even smaller pull back, as I drew, we have the untested fibo level of 0.618, which is full of liquidity.
GBPCAD Faces Key Resistance on Daily ChartThe GBPCAD currency pair has been in a strong uptrend in recent months, primarily due to the British pound appreciating against the Canadian dollar. This trend has propelled the price to around 1.8070, the highest level since 2020, where it encountered significant resistance.
After hitting this peak, the price reversed and broke a long-term uptrend line, subsequently retesting this area, which is now acting as resistance. Currently, the price is showing signs of potential rejection at the 50% Fibonacci retracement level (1.7812), indicating selling pressure.
It's important to note that the recent bearish movement (from October 30 to November 22) was notably stronger than the preceding bullish movement (from October 3 to October 30), suggesting that sellers have gained momentum after reaching the resistance level on the daily chart.
Potential Sell Trigger
If the price drops below the 1.7740 mark, it could activate a sell signal, indicating a new bearish phase. The technical setup supports this possibility because:
A drop below 1.7740 would negate the previous bullish candle on the daily chart.
The 50% Fibonacci level has already shown resistance, signaling price rejection.
Sell Opportunity:
Entry: If the price manages to close below the 1.7740 in the daily chart. A good entry point could be considered between 1.7740 and 1.7715, a range of 25 pips, maximum.
Stop Loss: Above the high of the previous candle, at around 1.7860.
Primary Target: Support area around 1.7475.
Secondary Target: Extension to 1.7313, which aligns with a historical support zone.
Alternative Bullish Scenario
Conversely, if the price breaks above the 61.8% Fibonacci retracement at 1.7891, it could suggest that buyers are regaining control, potentially allowing the pair to reclaim recent highs at 1.8070 and move higher.
Bullish Signals:
If the daily manages to close above 1.7891.
Sustained movement above dynamic resistance.
A Stop Loss could be placed at 1.7750.
Primary target would be around 1.8070, the daily chart resistance.
Summary
The GBPCAD is at a pivotal point; a break below 1.7740 could lead to a sharp decline, while a breakout above 1.7891 could resume the upward trend. The next direction will hinge on the strength of market participants and confirmation of these critical levels.
Disclaimer
74% of retail investor accounts lose money when trading CFDs with this provider. Consider whether you understand how CFDs work and if you can afford the high risk of losing your money. Past performance is not indicative of future results. Investment values may fluctuate, and you may not recover your initial investment. This content is not intended for residents of the UK.
