GBPCAD Long (Swing)
Updated
GBPCAD has broken a head & shoulder which I had analysed on August 22nd, retraced perfectly towards the shoulder to act as a momentarily support. Thus, GBPCAD might be having a pretty decent reversal right now.
Currently, waiting for a retracement back to strong H4 support level ( 1.63267 ) , looking good to capture take profit towards TP3 as its at a psychology
level ( 1.68000 ) + Fibonacci 0.5% as a major rejection. Sell Limit to be set on that level.
H1 & H4 had already rejected once on the major support level , so if you're patience you can wait for the double bottom to be form, if not you can enter for a intraday profit of 25 pips :)
Fundamentally speaking, as higher-ups of UK is hinting that there might be a chance of a deal-brexit. If it happens to be bad we might be going back down to trendily of heads & right shoulder, if it breaks however, prepare to sell.
Trade safe :) , August 22nd analysis on this pair will be in the comments .
Currently, waiting for a retracement back to strong H4 support level ( 1.63267 ) , looking good to capture take profit towards TP3 as its at a psychology
level ( 1.68000 ) + Fibonacci 0.5% as a major rejection. Sell Limit to be set on that level.
H1 & H4 had already rejected once on the major support level , so if you're patience you can wait for the double bottom to be form, if not you can enter for a intraday profit of 25 pips :)
Fundamentally speaking, as higher-ups of UK is hinting that there might be a chance of a deal-brexit. If it happens to be bad we might be going back down to trendily of heads & right shoulder, if it breaks however, prepare to sell.
Trade safe :) , August 22nd analysis on this pair will be in the comments .
Trade closed: target reached
SL hit unfortunatelyTrade closed: target reached
Took a sell trade on H1 resistance, fundamentally pound weak an hr ago. 80 pips profit :)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.