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Gbpcadshort

GBPCAD (Daily) SHORT IDEA: Is it time to BREAK the TRENDLINE?POTENZIAL PROFIT: UP TO 150 PIPS TECHNICAL ANALYSIS: -Since the beginning of April 2020, the price has been following a long downtrend, until the end of June, where the price bounced twice on an important weekly support zone. After the second rejection, the price hasn't been able to retest and break the support level, starting a new uptrend until it reached the resistance level at about 1.74000. -The weekly resistance zone, rejected and quickly reversed the market in a downtrend until the previous support level. -Since the half of September, the price started a new uptrend, following a clear ascending channel. Once it reached the resistance zone, it collapsed down but quickly back to the uptrend. CONCLUSION: -The price has been rejected from the resistance zone many times, and it actually happened again, that's definitely a strong level. I aspect the price falling down, reaching the next support level at about 1.70000. I'd eventually entry short only if the price will clearly break the trendline. ❤️If you enjoy my FREE Technical Analysis , let me know that with a big LIKE, I'll be so glad! Have you got some similar or interesting idea? Feel free to leave a comment below sharing your idea! Are you interested getting more FREE Technical Analysis like this? SUBSCRIBE my channel and you won't miss anything!❤️
Short
by FXtrades-gp
GBPCAD, 4hr tf, sell Wave-3 extension waveHello my friends, Another plan for GBP crosses pairs. We got GBPCAD to trade as well for today. But i am still waiting for price to touch around 1.7200 before entering sell. I use a sell limit order for this pair because it might hit my trade when i was not watching it. As you can see this pair is bearish in my opinion. GBP is very fragile right now because there is fundamental Brexit issues. If we do an Elliott Wave count we could assume that we're now on Wave-3 extension. Inside this extension there is a good setup to trade as well. Wave-3 is not finished yet because we still got wave-iv and wave-v to complete this Wave-3. Wave-iv is on the process and might completed soon. We are going to use wave-i area as our stop loss because we're trying to use Elliott Wave rule for 4th Wave. Sell limit GBPCAD 1.7195 Stop loss 1.7255 Take profit 1.6925 (4.5R) RR ratio 1 : 4.5 Use only 1-2% risk Good luck Check my GBPAUD plan as well on the link provided below. If you find my post useful, give me a thumbs up and follow me for the next updates.
Short
by HayatoDragonFX
2
4H-Break and retest. 1H analysisHours Timeframes are all showing Bearish signals. 4H - Break and retest of the trendline. base on the location of the market i believe we could find a good setup on both 1H and 30m 1H - Market on downtrend forming a LH. we have a bearish engulfing at LH. better on waiting for another hour to see how the next candles will do to get more confirmation for a entry. Note to consider: Daily closed with a long wick which giving a sign of some buyers coming to the market. We do have good setup for our entry based on 1H. but try to keeping an eye if the market broke the resistance then close the trade by cutting loses short.
Short
by Capitalflowsam
BEARISH POTENTIAL ON GBPCAD - RETEST?Hi Guys, This week we have this move on GBPCAD on our watchlist, Price has broken bearish on the 4hr as we can see. Price met a point of resistance ( roof of price) after its previous up move and is currently strongly sitting at point of support showing further bearish potential. We should look for a potential pullback to the broken point of previous support and now resistance. And if price does retest this zone, we may see the bears dominate this move.
Short
by Malika_Analysis
3