Assumed channel in 4HHello friends.
According to the drawn channel, I expect a correction towards the midline range.
what is your opinion?
Good luck.
# Let's look simply
GBPCAD trade ideas
Bearish Divergence in GBPCADA bearish divergence is observed in GBPCAD pair in an hourly timeframe. The bearish reversal occurred after the divergence and formed new LLs and LHs. This is potentially a good point for shorting.
GBPCADHello traders
GBPCAD this full bearish appears in the chart if it closes it now, its a high potential to sel.
the concept behind is the sellers will overrule the market snd buyers will loose their contorl.
if you interested more don't miss it to follow me.
NZDCAD: Last Idea Running 300+ Pips, Next Big Opportunity OTW! Dear Traders,
Our last idea hit 340+ pips successfully, and we expect price to continue rising up, after touching our imbalance zone. That area remain a strong possible buying area for buyers. Once rejected at the area we can see strong rebound from our buying zone. 400-500 pips move is expected.
Good Luck and Trade Safe
**If you like our idea then please do like, comment and follow for more**
GBPCAD Potential Head and ShouldersAs you may notice that it is my favorite set up and there is an bearish divergence.
It is a nice trade with 2RRR
GBPCAD: Reversal ExpectedGBPCAD successfully completed the ABCD pattern and now its trading in Potential Reversal Zone PRZ after printing the divergence on RSI. It will potentially break the previous higher low and will fall sharply. We will enter into the trade after the break of higher low.
GBPCADgbpcad on the 4hr timeframe you can see there are long wicks at the top signalling a sign of strong resistance up there
Potential Bullish continuationOur plan for the GBPCAD. The market seems to be in a 4th wave of a smaller degree, which in my view, she is in a 3rd wave of the next larger degree. Therefore, we're anticipating a triangle correction as the 4th wave and there after, a continuation to the upside in full filling the larger degree movement. Until then, we wait for the break out of the potential upper channel of the triangle and then we're good to fly.
GBPCAD bearishHello, I believe GBPCAD is heading for lower lows. I see a potential head and shoulder pattern on 4hr. Let’s see if it will break below neck line.
GBP/CAD Sell OpportunityOn 1H timeframe we have break of uptrend and channel and retest. The market looks ready for reverse.... also the RSI & Stochastic are high which means that at least we should expect a strong pullback
GBPCAD - SELL IDEAPrice is reacting from a bearish weekly imbalance. That reaction created a 4h+1h zone of stacked imbalance with 1H market structure shift to the downside.
Price is making a good corrective move to the upside, showing lack of intention to the upside.
There is some equal highs formed, wich can de sweepped out and make a good reaction from my point of interest wich is the stacked area of imbalance.
Analysis of GBPCAD🚨 Trade Alert: GBPCAD Double Top & Rising Wedge Reversal Pattern 🚨
We have identified a strong bearish setup in GBPCAD, marked by the following patterns:
Double Top Pattern 🔃
Rising Wedge Reversal Pattern 🔼📉
Entry Point:
We'll wait for the breakout of the neckline of the Double Top. A sell stop order has been placed at the breakout point of the Double Top.
Target Prices (TP):
TP 1: 📊
TP 2: 📊
Stop Loss (SL): 1.74227
Place your stop loss above the nearest significant resistance or recent swing high to manage risk.
Trade Summary:
Sell Stop Order: At the breakout of the Double Top neckline
TP 1: 1,73536
TP 2: 1.73187
SL: Above the nearest significant resistance or recent swing high
Technical Indicators:
The completion of the Rising Wedge Reversal Pattern adds to the bearish sentiment, confirming the likelihood of a downward move.
Trade Type: Short Swing 📉
Good Luck! 🍀
Stay informed and trade smart! 📊
Sell GBPCAD Bearish ChannelThe GBP/CAD pair on the M30 timeframe presents a potential selling opportunity due to a well-defined channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Poin ts:
Sell Entry: Consider entering a short position around the current price of 1.7405, positioned close to the top of Channel. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.7373
2nd Support – 1.7352
Stop-Loss: To manage risk, place a stop-loss order above 1.7425 This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
GBP/CAD has a strong bullish momentum, could it rise further?Price is falling towards a support level which is a pullback support that aligns with the 38.2% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.7329
Why we like it:
There is a pullback support level which lines up with the 38.2% Fibonacci retracement.
Stop loss: 1.7207
Why we like it:
There is a pullback support level which lines up with the 61.8% Fibonacci retracement.
Take profit: 1.7620
Why we like it:
There is a pullback resistance level which lines up with the 161.8% Fibonacci extension.
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GBP/CAD Potential ShortHi Traders.
1. HTF Ascending Channel
2. STF Ascending Channel
3. Top of Structure / Head n Shoulder Pattern
4. Break out n Bearish Correction
What dou you think?
short!we broke the trend on the 4H timeframe and did almost a perfect retest on the trendline.
we are heading for lower lows.
I cant wait for FallAll ideas are strictly my interpretation of price action. I am not a professional trader nor is this
professional advice.
I will continually update all trades.
huntliquidty hunt asian session and creating a divergence on swing high above the liquidity and with 4:00pm manila time. there is a hunt enter at fvg and ob on lower time frame the the price goaes above liquidity, risk management is key
GBPCAD FORREXThe Chart was printing a Bullish Trend but there was a Divergence and after that chart is Printing Bearish Trend
The Entry Point will be 1.73871 and the stop loss will be 1.74552
GBP/CADA double top is a bearish reversal pattern in technical analysis, indicating that an asset's price is likely to fall after reaching a certain level twice in succession, with a moderate decline between the two peaks. This pattern is used by traders to predict a potential change in the prevailing uptrend to a downtrend. Here’s an overview of the double top pattern:
Structure of a Double Top
1. **Two Peaks**: The asset's price reaches a high point (resistance level) twice, with a pullback between the peaks. The two highs are roughly equal.
2. **Trough**: The moderate decline between the two peaks forms a trough.
3. **Neckline**: The horizontal support level at the bottom of the trough. This line is critical for confirming the pattern.
Identifying a Double Top
1. **Uptrend**: The pattern occurs after a significant uptrend.
2. **First Peak**: The price rises to a high point and then pulls back.
3. **Trough**: The price declines from the first peak to form a trough, establishing a support level (neckline).
4. **Second Peak**: The price rises again to a level similar to the first peak and then declines.
5. **Breakdown**: The pattern is confirmed when the price breaks below the neckline support level after the second peak.
Example
Assume the price of a stock rises to $100, falls to $90, rises again to $100, and then falls below $90:
1. **First Peak**: $100.
2. **Trough**: $90.
3. **Second Peak**: $100.
4. **Neckline**: $90.
5. **Breakdown**: Price falls below $90, confirming the double top pattern.
Trading the Double Top
1. **Entry Point**: Enter a short position when the price breaks below the neckline with increased volume.
2. **Stop-Loss**: Place a stop-loss order above the second peak to manage risk.
3. **Target Price**: The target price is usually estimated by subtracting the height of the pattern (distance from the peaks to the neckline) from the breakdown point.
Example Calculation
- **Height of the Pattern**: $100 (peak) - $90 (neckline) = $10.
- **Breakdown Point**: $90.
- **Target Price**: $90 - $10 = $80.
Benefits and Risks
**Benefits**:
- **Clear Signal**: The double top provides a clear signal for a potential trend reversal.
- **Defined Risk/Reward**: Traders can set precise entry and exit points, managing risk effectively.
**Risks**:
- **False Breakdowns**: There is a risk of false breakdowns, where the price breaks the neckline but then reverses back up.
- **Market Conditions**: The pattern is more reliable in strong trending markets and less effective in choppy or sideways markets.
Conclusion
The double top pattern is a useful tool for traders looking to identify potential bearish reversals. By recognizing the formation of the two peaks and the breakdown below the neckline, traders can set up trades with clear entry and exit points. Proper risk management, including the use of stop-loss orders, is essential to mitigate the risk of false signals.
GBPCAD-SELL strategy daily chartThe pair had a nice run higher, and I feel this may come to an end now short-term.
Stochastic is high level, and we are above KC and a pullback is likely, if we sum these factors up.
Strategy SELL @ 1.7390-1.7445 and taker profit @ 1.7257 for now. SL above 1.7475.
GBPCAD Potential Sell IdeaHey everyone, its been quite a while since my last trade idea but I've been pretty busy lately. Anyway, here is my setup for a potential sell on GBPCAD. I'm looking at it filling the FVG at the breaker then dropping to target #1 near the -2 fib level and perhaps even target #2 at the -4 fib level.
