You can wait until it leaves the triangle, but I entered. This is my opinion and it may be 100% wrong
The GBPCAD is about to retest a broken horizontal support level, which is now likely acting as resistance following a breakout. To confirm a bearish trend, I have observed a horizontal range on the 4-hour chart and a bearish breach of its support level. I anticipate that the price will decrease to around 1.7043 or 1.7000 in the near future.
The presence of an ascending trend line on the daily frame There is divergence on the Relative Strength Index (RSI). The presence of areas of strong demand The presence of a harmonic model supports purchasing
1- Divergence on MACD indicator. 2- Followed by Convergence. 3- This presents a typical scenario of; Pullback followed by continuation to the Down Side. Looks like Pullback is happening right now. Look for Sell Setups in the shaded zone. Target and protection shown on the chart.
Hello everyone, i want share my idea bout GBPCAD. If we look at higher timeframe, price action slowly but it's still going higher, last week we saw huge reactions from sellers but buyers still has control at price. My analysis at the moment is price action, if price will brake, 1.718 resistance LVL then we have much stronger resistance at 1.73 and 1.75. I am...
All 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.
SELL GBPCAD on H4 frame SL:1.72242 TP:1.69 Megium signal.
GBPCAD short did not get filled in but level getting respected
📈🚀 GBPCAD Market Update: Preparing for Bullish Breakout! 🎯💼 Forex Traders, exciting news on GBPCAD: OANDA:GBPCAD 🔄 Inverse Head and Shoulders Formation: GBPCAD has developed an inverse head and shoulders pattern at the bottom of its downtrend, signaling a potential bullish reversal. 📈 Current Status: The pair is currently forming the right shoulder. A...
GBPCAD is currently moving up making HH and HL. Sign of retracement are observed with no divergence. Price can move up to a defined projection giving a good opportunity to buy on breaking highs.
Traders eyeing the GBPCAD pair have identified a compelling sell zone, located at 1.71745. This zone marks a crucial level where sellers are expected to enter the market with increased activity, potentially exerting downward pressure on prices. Traders keen on short positions closely monitor this sell zone as it presents an opportune entry point to capitalize on...
Aggressive Entry Return to Previous Level Pattern Unemployment Rate etc all better than Expected Hence Positive CAD push Down But now more often than not the Retrace Over Extended on the FT MLA Bands MT4 RSi's heading up on the 1 m need to get in early.
GBPCAD respected horizontal Resistance on 4hrs timeframe and Trendline Resistance on weekly timeframe. Moreover, fundamental analysis shows that overall Endogenous and Exogenous factors of GBP are weak and CAD is fundamentally strong. Seasonality graph in the month of May is Bearish. Lastly, COT flip data is decreasing which means that overall institutional...
all gap area was filed in last week. I think all liquidity of gbp cad are ready for purge . this movement is my idea but i need to wait until Tuseday .
GBPCAD chart in 4h time frame is printing HH and HL and there is no divergence observed. Therefore market may seem more inclined to move in the direction of the existing uptrend. Hence I'm using AB = CD Pattern to take long entry with Buy Stop Order on the breakout "B" point Level with stoploss below at "C" Point which is last Higher Low level.
Technical Confluences for Trade: - Stochastics are in Overbought Conditions on D1 and H1 time-frame. H4 is also entering Overbought Conditions. - Price action is close to last month's Resistance Trendline - Price action is well into a Supply Zone area - Targeting between the 50.0% - 61.8% Fibo retracement Suggested Trade: Entry @ Area of Interest 1.7180 -...
All ideas are strictly my interpretation of price action. I am not a professional trader nor is this professional advice.
Market Structure Bullish On HTF Weekly and Daily around same AOi Weekly Rejection Candles Daily Rejection At AOi Daily EMA retest Around psychological Level 1.71500 H4 EMA Retest Candlestick rejection from AOi SOS 1:4.92% Entry Signal 85% B+ REMEMBER: Trading is a Game Of Probability : Manage Your Risk : Be Patient ...