GBPCAD Wait for break for the bulls.
Day time frame.
After a previous 4th bounce of the Support of 1.6500 level. A nice trend seems to be gaining traction.
It's found a lovely glass roof at the 1.7100 area.
Waiting for a retest of Significant level of 1.7000 level and enter.
If trade goes love and breaks Weekly trend line, may be worth a re enter for the same TP.
Of course always use your own R:R as there is a substantial SL but plenty to gain.
Approx setup
Entry - 1.7000
SL - 1.68261
TP - 1.84919
R:R - 8.58
After a previous 4th bounce of the Support of 1.6500 level. A nice trend seems to be gaining traction.
It's found a lovely glass roof at the 1.7100 area.
Waiting for a retest of Significant level of 1.7000 level and enter.
If trade goes love and breaks Weekly trend line, may be worth a re enter for the same TP.
Of course always use your own R:R as there is a substantial SL but plenty to gain.
Approx setup
Entry - 1.7000
SL - 1.68261
TP - 1.84919
R:R - 8.58
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.