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Gbpcadlong

GBPCAD Long BullishThe GBPCAD long bullish idea is supported by two key technical indicators: breakout and bullish divergence. Breakout: The GBPCAD currency pair has experienced a breakout above a significant resistance level. This breakout suggests a potential upward movement in the pair, indicating a shift in momentum in favor of the bulls. Traders often interpret breakouts as a signal for potential buying opportunities. Bullish Divergence: In addition to the breakout, there is a presence of bullish divergence in the price action. This occurs when the price makes lower lows, but the corresponding indicator (such as RSI or MACD) makes higher lows. It indicates that the selling pressure is weakening, and a bullish reversal might be on the horizon. Combining these two technical signals, traders might consider taking a long position on the GBPCAD currency pair, anticipating further upward movement in the exchange rate. However, it is essential to perform further analysis and risk management before executing any trades. Traders should also be aware of potential risks, such as unforeseen market events or changes in economic fundamentals that could impact the currency pair's direction. As with any trading idea, it is crucial to consider your own trading strategy and risk tolerance before making any decisions.
Long
by MAAwan
7 Dimension Analysis For GBPCAD 😇7 Dimension Analysis - Bullish Setup on GBP/CAD Analysis Time Frame: Daily 1: Price Structure: The market is currently exhibiting a bullish price structure, characterized by an initial Behavior of BoS (Breakout of Support). The move is impulsive, and the inducement is completed with liquidity swept internally. This is the 1st pullback in the bullish move, and the extreme order block (OB) remains unmitigated. Strong bullish momentum is evident around the demand area. 2: Patterns: 🟢TREND LINES: A horizontal support line is observed, acting as a key level of support. 🟢CHART PATTERNS: A double top pattern with an impulsive breakout and heavy volume is in place. A rectangle pattern has also broken out, with the previous resistance now becoming support. A V-shaped swing indicates a rapid recovery. 🟢CANDLE PATTERNS: A key reversal pattern has formed, signaling a potential trend reversal. A record session count of 4 candles is observed, indicating strong bullish momentum. A change in guard pattern has appeared. Momentum has failed to sustain a clear direction. 3: Volume: Volume on the breakout was not significant, but after the breakout, big volume appeared as a follow-up. Volume during the correction phase is average. 4: Momentum UNCONVENTIONAL Rsi: 🟢The Unconventional RSI is currently in a sideways zone. 🟢Divergence is evident. 🟢Confirmation is needed for a breakout above the 60 level or resistance. 5: Volatility measure Bollinger bands: 🟢Prices are taking support at the middle band, indicating its significance as a support/resistance level. 🟢A squeeze breakout occurred, going outside the upper band, and prices have already done a "Walking on the band" move, indicating bullish momentum. 🟢A headfake pattern is clearly visible at the low of the previous move. 🟢Dual band derivation suggests that confirmation may take 1 or 2 more days. 6: Strength ADX: The ADX is in a "kiss and cross" position, but the main line is above 20, indicating that bulls are still in strength. 7: Sentiment ROC: The rate of change for GBP against CAD is positive, indicating GBP strength. ✔️ Entry Time Frame: H1 ✅ Entry TF Structure: The current structure is bearish, but as 4 pullbacks are already counted, there is a high chance that the price can change structure. It is advisable to enter once the choch is done, as the low is already confirmed. ☑️ Entry Move: Impulsive ✔ Support Resistance Base: Trend line now acts as support. ➕ FIB: Activated ↕️ Trend Line Breakout: Broken. ☑️ Final Comments: Consider buying. 💡 Decision: Buy. 🚀 Entry: 1.7040 (1st option), 1.6860 (2nd option). ✋ Stop Loss: 1.6795 🎯 Take Profit: 1.7637 😊 Risk to Reward Ratio: 1:11 🕛 Expected Duration: 30 days.
Long
by Optimum369
GBPCAD - Inverse head and shoulders pattern forming?Analysis: Price last week managed to put in a new higher high showing us that we're in an upwards trend meaning that we only want to be going long on this pair. At this level we saw that price held as support if we look left so we expect that it will hold again. Now for this particular setup we don't have any fib levels which we usual look for but we do instead have another pattern, an inverse head and shoulders pattern. This is a bullish chart pattern which is often followed by a bullish move after the second shoulder is formed which is what we expect and this second shoulder lines up with our support level. To add further to this level of support we have a previous downwards trendline that was broken and now is being retested for support. We expect that buyers will set here and will want to hold this level making it a good buying opportunity. Taking a look at the fundamentals we have the GBP which is the 3rd strongest major currency compared to the CAD which is the 2nd weakest major currency so this is already going in our favour, but we get even more confluence as we dig deeper. As of the most recent report for institutional positioning on the CAD we saw an increase in both long and short positions so this is pretty neutral but this isn't the same story for the GBP. As of the most recent report on the GBP for institutional positioning we saw an increase in long positions and a decrease in short positions showing the strength of the GBP and we expect that this will continue. Overall the technicals and the fundamentals are pointing to bullishness on this pair which is why we have our long bias on GBPCAD. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Long
by jpeacockfx
26
GBPCAD Looking for bullish evidenceCurrent market state - Ranging Preceding move - Strongly bullish My bias - bullish Trade location 1 - After a break out and retest Trade location 2 - At the bottom of the range if bullish PA is seen. Nothing is 100% in trading, so as always, use sound money and risk management and stay patient in all your trades. If you like my content, please give it a “thumbs up” and follow me to get even more. What do you think about this trade idea? Please comment and share your thoughts!!
by Trading_Vista
GBP/CAD long CAD boosted by Bank of Canada rate hikeRisks a drop toward the 200-DMA GBP/CAD’s failure to rise decisively past the end-2022 high of 1.6850, slightly above major resistance on the 200-week moving average, points to fatigue in the nine-month-long rally. The cross is testing a crucial converged floor, including the April low of 1.6535, coinciding with the 89-period moving average. While a minor rebound can’t be ruled out given the significance of the support, the broader bias remains down, potentially toward the 200-day moving average (now at about 1.6225). The Canadian dollar may have just received the boost to extend gains against some of its peers, thanks to the Bank of Canada’s (BOC) hike on Wednesday. BOC hiked its overnight rate to a 22-year high of 4.75%, saying “concerns have increased that CPI inflation could get stuck materially above the 2% target.” The central bank, however, dropped the April language saying it “remains prepared to raise the policy rate further”, making it more data dependent. Markets are pricing in another rate hike in July, with the terminal rate seen at 5.15% by the end of the year.
Long
by DaveBrascoFX
GBPCAD H4 Long Term Selling Idea Hello Traders In This Chart GBPCAD HOURLY Forex Forecast By World of Forex today GBPCAD analysis 👆 🟢This Video includes_ (Gold market update) 🟢What is The Next Opportunity on GBPCAD Market 🟢how to Enter to the Valid Entry With Assurance Profit This Video is For Trader's that Want to Improve Their Technical Analysis Skills and Their Trading By Understanding How To Analyze The Market Using Multiple Timeframes and Understanding The Bigger Picture on the Charts.
Long
by forexplanet797
4