Tag: GBPCAD Analysis

Plenty of trading opportunities today

What do you think about the markets this week? There are many currency pairs trading in a clear market condition, making it easy to look for trade opportunities, quite different from what we saw last week. Lets see if at the end of the week the pips on my account reflect it! ;)
Some of the GBP crosses are also in a clear bearish condition (not the GBPUSD though), specially GBPCHF, GBPAUD, GBPNZD and GBPCAD, and most of them have a good deal of pips before the hit the next LT support level…

For instance, let’s take a look at the GBPCAD:

The next LT level is at 1.5427 and we are currently trading around 1.5777, so we have plenty of room to get a trade with a good risk reward ratio.

Are you monitoring this one?

Trade Safe!

Raul Lopez
Forex Course
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forex, GBPCAD Analysis, trading

GBPCAD – Looking forward for the support breakout

After yesterdays swings a few currency crosses formed a range around important LT levels, and as you already know, its very important to determine the range in order to start looking for trade opportunities (i.e. after a breakout of the support level).

The GBPCAD is one of those cases. Right now, I’m looking forward for a breakout of the support short term level around 1.5921 (lower green level):

If it breaks the ST support level, I’ll start looking for short opportunities.

All take profit orders should be set around 1.5460

Trade Safe!

Raul Lopez
Forex Course

GBPCAD Analysis

GBPCAD Trade Update, hit limit & NFP

The decision of holding your trades during important fundamentals releases its always tough, you never know what could happen. I definitely feel more comfortable once the market has already moved on my favor and in order to hold my trade, I need to have nothing at risk on such trade, for instance moving your stop loss to the breakeven level. But you need to remember that you still need to give the market some room so you don’t get stopped out during normal market swings.

So if it is too close to my entry SL level I just close it. However, if the market has moved on my favor, my SL is at least at the breakeven level and has enough room from my SL to the current market action, I hold my trade.

This was the case of the GBPCAD trade I took yesterday, I moved my SL since yesterday and had enough room to hold my trade during the non-farm payrolls report. It came out a little better than expected and the market didn’t take a big hit, which was good for my trade (finally hit my TP order).

Now, about the non-farm payrolls report, have you noticed that the market has not been getting a lot of impact from this announcement lately? I have… And its good! What do you think?

Have a great weekend!

Raul Lopez
Forex Course

Fundamental, GBPCAD Analysis

GBPCAD – I’m long

Today I like the GBPCAD, it is trading in a bullish condition, it has enough room to get a good risk-reward ratio (before it reaches the next LT resistance level) and on the short term charts, it is trading above every important level, it just has everything I like to see on a chart to look for trade opportunities. This is how the short term charts looks like:

Now, take a look at the lower yellow level, its where I have my SL order (the upper resistance level is my entry), it was just a couple of pips away from touching it, and just after barely touching my SL, the market shoot up… This is how the market is at times… Just when you think the market is going to stop you out, it turns around and hits your TP order… it still has a long way to go though…

Trade Safe!

Raul Lopez
Forex Course

GBPCAD Analysis

GBPCAD and CADCHF signals

We got two signals triggered today, we actually got three signals (another one in the USDCHF) but decided to enter only in the following pairs:
GBPCAD short signal, it is trading in a bearish market condition, it broke through an important LT support  level triggering its condition. It retraced back to the ST resistance level and formed a pattern with downward pressure:

Here are the details of my order:

Entry: 1.5715
SL: 1.5752
TP: 1.5403

CADCHF, long signal, as we have been talking about in previous posts, the CADCHF is one of the pairs that its trading in a very clear market condition, its been like this in the last few months giving us very good signals. It is trading in a clear bullish market condition, retraced back to an important ST support level and formed a significant pattern with upward pressure:

SL already moved to 0.9541 (locking in some profits).

Entry: 0.9528
Trailed SL: 0.9541
TP: 0.9819

Trade Safe!

Raul Lopez
Forex Training

CADCHF Analysis, GBPCAD Analysis

GBPCAD – Sell stop order at 1.6154

The GBPCAD is trading in a bearish market condition, if you take a look at the daily chart, you’ll see that it was rejected from an important LT resistance level, and it is likely to continue its way down until it hits the next LT support level:

Anyway, I have set a sell stop order at 1.6154, if the market goes back to that level, my entry will trigger and I’ll use the following SL and TP orders:

SL: 1.6211
TP: 1.5903

I’m risking 57 pips for the chance to make 251, RRR = 4.4:1, good one ha?

Remember, it needs to go back to 1.6154, I wouldn’t recommend entering the market above this level. the GBPCAD is currently trading at 1.6184

Trade Safe!

Raul Lopez
Forex Training

GBPCAD Analysis

Focusing on GBP crosses

Apparently the GDP announcement got things moving in the GBP crosses (at least most of them). The GDP came out at 0.8%, forecast was 0.4%, it was a good figure, but not as good as the movements we saw this morning, I guess sometimes traders need a catalyst to get things moving.

GBPJPY is in a bullish market condition, next LT level is at 135.05
GBPCHF, bullish and next level is at 1.5856
GBPCAD, bullish and next level is at 1.6386

The only wan that is still trading in a range is the GBPUSD, not that well defined by the way, so I’m staying out of this one.

Trade Safe!

Raul Lopez
Forex Training

GBPCAD Analysis, GBPCHF analysis, GBPJPY analysis, GBPUSD Analysis

GBPCAD – In a LT range

The GBPCAD is trading in a long term range in between 1.5874 and 1.6386:

It is clear that the GBPCAD is being rejected from the support level, this triggered a bullish market condition, and therefore only long opportunities are in play.

The next LT resistance level is at 1.6386 and it is currently trading at 1.6083, so there are more than 300 pips before the market gets there, plenty of room.

Trade Safe!

Raul Lopez
Price Action

GBPCAD Analysis