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Pure price action based on support and resistance and trendlines.
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...
GBP/CAD is strongly tempting to reach the strong resistance level at 1.73450 again. The price has tested this area three times already. So, I plan to buy when it breaks the trendline shown on the chart. Additionally, breaking through the ChoCh level is adding strong momentum towards reaching the resistance level soon. Let's wait for the breakout.
OANDA:GBPCAD This is to some extent a continuation of my last attempt to short the pair, which unfortunately failed. The pair has been consolidating for a while and has formed a triangle. Now, with a valid triangle pattern and bearish divergence, the pair has broken through the support. This presents a great opportunity to short the pair with moderate risk.
Price had broken our support level and hence i expect a retracement before continue downside.
GBPCAD - Bullish Rectangle Continuation. Sign of retracement are observed with no divergence.
FX:GBPCAD This pair created multiple rejections at the highs before printing a top reversal. Those rejections on the 1 hr time frame formed a Micro level of resistance in the market. If this level holds we could see a test of the 78.6 level on the Fib. If Momentum remains bullish on the higher time frames we could see a break of the highs. If that occurs I'll...
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.
welcome here is my gbpcad long idea its based on overall bullish strength price trading above 50% fiblevel of current weekly and monthly candle price trading above weekly pivot, all ema´s and creating higher highs lets see if we can catch a bull wave here
Market structure Bullish on HTF Weekly and Daily AOi in the same Area Weekly Candle stick Rejection at AOi Daily Candle stick rejection at AOi Round Psych Level .1.71500 H4 EMA Retest Candlestick rejection SOS 1:4.04 Entry Signal 90% REMEMBER: Trading is a Game Of Probability : Manage Your Risk : Be Patient ...
###REPOST### Price took me out last week but Market Structure still intact, Looking for a re-entry to go short with the market STRUCTURE BEARISH ON HTF WEEKLY AND DAILY AT SAME AOI PREVIOUS WEEKLY STRUCTURE POINT WEEKLY REJECTION AT AOI DAILY REJECTION AT AOI DAILY EMA RETEST AROUND PSYCHOLOGICAL LEVEL H4 EMA RETEST PREVIOUS STRUCTURE POINT H4 REJECTION...
OANDA:GBPCAD We have a valid harmonic pattern, which, if materializes, could bring the pair down as low as 1.6950.
We have observed completion of XA, AB and possibly BC limb as well. We have yet to wait for CD limb to complete. Price may go up at PRZ, which will be a potential buy opportunity.
All ideas are strictly my interpretation of price action. I am not a professional trader nor is this professional advice.
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...
this analysis just base on ''basic technical analysis' downtrend structure at TF H4 i think this is the peak resistance time to continue bearish disclaimer this is not a signal be smart save and love your money i just share what i see and what i learn thanks
Double top spotted! If horizontal line gets broken, then I will enter a short position. TP 1.702