very clear long (upside breakout in upside trend) took a long position from here.....
very clear downside breakout in downside trend..... nice 2:1 P/L position opportunity today
Falliing tops of resistance area in a recent pullback indicate a new strong wave toward .7050 area.
Retracement wedge is squizing. Third bottom reached now so it is time to pass the wedge. Technical and macro indicators point at further CAD weaknes. Nice RRR so it migh be a very nice low risk trade opportunity.
gbpusd reached 1,5530-40 area which represents strong resistance point. W and M trends are down. Last month we saw nice Fibo retracement and the wedge is becoming very narrow now so not much more space to dance ove there. Wexpecting some serious move down soon. Trade offeres nice RRR 1:4.
Area between 1,15 and 1,1550 proved to be very strong resistance. Trend is squizing and due to much broader down side trend and ECB just about to start flushing with fresh money the probabolity to bounce downside is much greater. Risk reward ratio 1:7 makes your position very comfortable.