This is a two entry sell analysis with an entry rule.
Although GBP as found some momentum as a whole, CAD has been looming right behind in its showdown with 4 weeks of strong positive economics which is expected to continue through the start of 2021.
The entry rule here is clearly shown on the chart. A break and close out below the support of 1.73500 for one who practice strict risk management rather than sell stopping at 1.74000 ( which I’ll do on my demo account 😂).
TP first sell at support shown and if the support breaks allow the second sell to continue to second TP. Close out second sell if there is clear support at 1.74000 and pivots look for SL.
RSI and MACD are currently correcting towards selling points for some technical sentiment.
Please comment with any thoughts and ideas. Thank you.
Although GBP as found some momentum as a whole, CAD has been looming right behind in its showdown with 4 weeks of strong positive economics which is expected to continue through the start of 2021.
The entry rule here is clearly shown on the chart. A break and close out below the support of 1.73500 for one who practice strict risk management rather than sell stopping at 1.74000 ( which I’ll do on my demo account 😂).
TP first sell at support shown and if the support breaks allow the second sell to continue to second TP. Close out second sell if there is clear support at 1.74000 and pivots look for SL.
RSI and MACD are currently correcting towards selling points for some technical sentiment.
Please comment with any thoughts and ideas. Thank you.
