GBP/CAD: UpdateAs GBP/CAD hit my Stop Loss in my yesterday trade when I was shorting in $1.6492 CAD, i knew in the market structure that it's a bearish setup, and then I decide to entry in the short position again in the higher price like $1.6567 CAD in the market price, what hours more later, GBP/CAD drop significantly as I knew it based in my parameters, So, I will qualify this trade like pretty excellent, but the only thing it's the entry in the price and how to take action when closed up our position when it's a market trap or maybe a continuation in the trend that we may to know it as professional trader.
Now, look in H4 timeframe one detail that I add in this update, we see a smart point that I draw in H4 timeframe in the yellow zone that Identify our smart point to sell. Also, in my previously analysis in GBP/CAD when I re-entry in short in my comment box that I write down that i identify very good a short in this zone, a formation of break out using and drawing a diagonal line, the price action very good, and also, the only detail it's add this zone why was important to add here.
Now, if you follow my analysis, notice that we're in profit over almost 200 pips earned in this trade. What this was an amazing drop that a lot time I don't catched an entry like this. But now, I update my target profit that I want to eat my all target until $1.6128 CAD, That will be my great target that I can to get 440 pips in this single trade. What I down my target profit for this level based in H4 timeframe, we have a huge potential in this par. And also, I put a break even to $1.6506 CAD to protect my pips in profits.
So guys, if you're shorting GBP/CAD and follow my analysis as always, we can to grow up our community that it's big in my number of followers in my social media.
Remember that tomorrow we have our big event in United States about the U.S. interest rate decision and what FED will do in our global financial market when tomorrow reflect their result in investing. What based in my analysis, Federal Reserve starting to downturn their interest rate, what we hope that U.S. Dollar continue bearish in this way.
Have a good night!!!
