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Gbpcadshort

GBPCAD - Bearish BiasGBP - BEARISH 1️⃣ Brexit negotiators will fail to agree anything in talks this week, thus missing the mid-November deadline to finalize a deal. 2️⃣ The unemployment rate in the UK increased to 4.8% in the third quarter of 2020, higher than 4.5% in the previous period and 3.9% a year earlier. CAD - BULLISH 1️⃣ The CAD benefitted from the rising in oil prices amid coronavirus vaccine hopes. 2️⃣ Risk-On tone support the CAD. ===== Technical ===== We are looking to sell GBPCAD at the resistance on H1 to minimize the loss and maximize the profit.
Short
by MonsunAsia
1
GBPCAD, 4hr tf, sell elliott wave 5th waveHello my friends, For today, i am gonna trade GBPCAD again. Previously i took +170 pips profit banking 5.6% profit from a sell setup that i shared at November 4th. This setup gonna be a continuation of previous wave analysis that i shared at October 30th As you can see, i expect price to go down again because we still on the 4th wave right now. Price could drop to around 1.7000 - 1.6960 which is around 170-210 pips drop from this point. This is also supported by the last few candles of GBPCAD showing sign of reversal. There is inside bar exactly at resistance and doji candles showing indecision. Sell GBPCAD 1.7170 Stop loss 1.7240 Take profit 1.6960 RR ratio 1 : 3 (3R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
GBPCAD, 4hr tf, sell the bearish engulfing rejectionHello my friends, Another setup for you is GBPCAD pairs. If you find this post useful, don't forget to give this post a like and follow me for my next update. As you can see there is a bearish engulfing rejection exactly at 1.7180 resistance. There is also descending trend line at this area so we could say this is an area of confluence. Previously i posted about GBPCAD bearish with elliott wave analysis Some friends might not able to catch those trade and being left out. Well, don't worry because this could be another opportunity to enter here. As for those who already enter this trade, then you could use this opportunity to add some more positions. Sell GBPCAD 1.7170 Stop loss 1.7240 Take profit 1.6960 RR ratio 1 : 3 (3R) Use only 1-2% risk Good luck Disclaimer : I sold GBPCAD from 1.7170
Short
by HayatoDragonFX
GBPCAD, 4hr tf, elliott wave analysisHello my friends, This is another setup before we close this month. This pair a little bit tricky to analyze because i tried analyzing it with Elliott Wave. As you can see there is a possibility that we're currently on Wave-3 and this wave is an extension. This mean Wave-3 consists of 5-3 waves as well. In my opinion we are on Wave-4 of this extension which is shown by the (iv) mark. Basic elliott waves rule is wave-4 never touch wave-1 area so we could use wave-(i) last point as our stop loss to invalidate our analysis. Sell GBPCAD 1.7290 Stop loss 1.7375 Take profit 1.6850 RR ratio 1 : 5.1 (5.1R) Use only 1-2% risk Good luck
Short
by HayatoDragonFX
4