GBP/CAD Daily Price Forecast – 13th March 2025

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Trade Summary:

NZDCAD
Buy Stop @ N0.82190
TP @ 0.82397
SL @ 0.81822

GBP/CAD Analysis (H4 Timeframe)

Overview

The chart indicates a bullish trend for GBP/CAD, supported by momentum and candlestick confirmations. The price is currently trading near a key psychological level, with a clear trade setup provided by the EliteSwingTrader indicator.

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Key Observations

• Momentum Power:

  • The momentum power is positive, indicating a continuation of the bullish trend. The value of 0.00032800 suggests moderate strength in the upward movement.

• Price Levels:

  • Buy-Stop: 1.86757

    • This is the entry point for a long trade, placed slightly above the current price to confirm bullish momentum.

  • Stop Loss (SL): 1.86026

    • The stop loss is placed below the recent support level to minimize risk in case of a reversal.

  • Take Profit (TP): 1.87425

    • The take profit level is set near a resistance zone, providing a favorable risk-to-reward ratio.

• Trend Analysis:

  • The price is trading above the green moving average (short-term trend) and the blue moving average (long-term trend), confirming a strong bullish trend.

  • The upward slope of both moving averages further supports the bullish bias.

• Candlestick Confirmation:

  • The indicator suggests waiting for candlestick confirmation before entering the trade. This ensures that the trade aligns with the prevailing momentum.

• Round Levels:

  • The price is hovering near the psychological round levels of 1.86500 and 1.86600, which often act as support or resistance zones. A breakout above these levels would confirm the bullish continuation.

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Trade Setup

• Entry: Place a buy-stop order at 1.86757 to confirm the breakout.

• Stop Loss: Set at 1.86026 to protect against downside risk.

• Take Profit: Target 1.87425, aligning with the next resistance level.

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Risk Management

• The stop loss is placed at a safe distance below the support level, ensuring protection against false breakouts.

• The risk-to-reward ratio is approximately 1:2, making this a favorable trade setup.

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Conclusion

The GBP/CAD pair is in a strong bullish trend, supported by momentum and technical indicators. The trade setup provided by the EliteSwingTrader indicator is well-aligned with the current market conditions. Traders should wait for candlestick confirmation before entering the trade to ensure momentum sustains.

Recommended Lot Size

Trading is all about statistics.

While we can experience winning streaks, we can also suffer from losing streaks.

As such, we should always size each trade to withstand losing streaks (if any).

It's widely recommended that you should not risk more than 2% of your capital for each trade.

We believe it's easier to control your lot size by limiting your lot sizing to 0.01 for every $500 in your account.

So if you have $5000, then risk no more than 0.10 lot size per trade.

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If you spot a mistake especially when it comes to the price, please use common sense and check the chart.

We wish you good luck and good profit for this trade idea.

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