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GBPUSD WEEKLY BUY PIN BARGBPUSD WEEKLY BUY PIN BAR
We can get the opportunity in buy fever with the GBPUSD WEEKLY BUY PIN BAR
NZDCAD SHORT TRADE H4 PIN BARA PIN BAR HAS FORMED ON THE H4 CHART. STRONG DOWN TREND ON THE DAILY CHART.
FALLING TREND LINE
TAKE PROFIT IS SET TO HALF MY POSITION AS I THINK THERE COULD BE ROOM FOR POSSIBLE FURTHER DOWNWARD MOVEMENT. STOP WOULD BE MOVED TO BREAK EVEN.
CBS Long - Pin bar bounce on support with VolumeFriday brought a huge bounce on very high volume at a great support level for CBS. There is also very strong bullish momentum divergence seen on the mac-d histogram and the stochastic oscillator makes it seem price is making plans to pop off hard. I would play a limit order for the closing price at 56.74 with my stop loss 5 cents below the low of Friday. Sticking with a straight 1:2 risk reward ratio would have one selling around the first resistance level.
Entry: 56.74 Limit
Stop Loss: 54.96
Profit Target: 60.30
R/R: 1:2
