GBP/CAD: entry in the 0.618% fibo to bullish setup
Updated
We see a nice opportunity to long GBP/CAD to the bullish setup that I have in my hand. First, GBP/CAD still bullish.
In H4 timeframe, GBP/CAD still in the descending trend that became bullish from January, 8, 2023. What this mean a great opportunity to entry to long in USD/CAD from this month.
Now, in H1 timeframe we see that GBP/CAD made a price in the 0.618% fibonacci level, indicating the best zone to buy. The EMA 200 could indicating support later of this fake break out.
For the moment, I decide to put a buy order limit in $1.6524 CAD, Stop Loss in $1.6474 CAD and take profit to $1.6665 CAD.
I hope that this classic analysis support you
Good luck!!!
In H4 timeframe, GBP/CAD still in the descending trend that became bullish from January, 8, 2023. What this mean a great opportunity to entry to long in USD/CAD from this month.
Now, in H1 timeframe we see that GBP/CAD made a price in the 0.618% fibonacci level, indicating the best zone to buy. The EMA 200 could indicating support later of this fake break out.
For the moment, I decide to put a buy order limit in $1.6524 CAD, Stop Loss in $1.6474 CAD and take profit to $1.6665 CAD.
I hope that this classic analysis support you
Good luck!!!
Trade closed manually
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