GBPCAD: Bearish Engulfing Candle supports sell off continuation
After breaking bullish trend line, it fails at the retest point with big bearish engulfing candle. Short trade setup could be good here with 1.7850 and 1.7750 as targets, you can put your stops right above 1.81 levels
Note
TP1 reached at 1.7850, +100 is done here. we can book partial profits and move your SL level to entryTrade closed: target reached
We close the rest of our position here. Average return on our position is +65 pips
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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.