GBPCAD Possible long setup
Updated
Monthly - Price wicking to the downside (market is rejecting 1.7000) round figure.
Weekly - last 3 weeks saw bullish momentum to the upside. Rejecting a Very strong resistance area. (awaiting pull back to collect buy orders).
Daily - Structure break to the upside. Bearish engulfing at the swing high creating new Higher High.
4h - market is shorting towards the trendline and liquidity zone.
will watch for candle movement around the red zone for a possible long entry.
Weekly - last 3 weeks saw bullish momentum to the upside. Rejecting a Very strong resistance area. (awaiting pull back to collect buy orders).
Daily - Structure break to the upside. Bearish engulfing at the swing high creating new Higher High.
4h - market is shorting towards the trendline and liquidity zone.
will watch for candle movement around the red zone for a possible long entry.
Trade active
Comment
Trailed SL to 10 pips above break evenComment
Trailed SL 1.74170 ... to lock in some profitsComment
Trailing SL Higher to 1.75030 to lock in 150pips profit incase the market reverses from its current position.Trade closed manually
closed out manually at .1.75473... Market is creating a reversal pattern. Rather bank the profits and look for another entry on another day.Comment
210pips banked. Not a Bad trade at all.
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