This pair retraced about 500 pips from last high. Now is about to touch PRZ near the round level 1.900, a nice area for a bounce The B point of the bat is not touching the 0.61 level, so the pattern is valid. I expect a target a least to the 0.38 level. Good luck
Comments
ashif030
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SL Hit
FullTimeTrader
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Yes, the news were too strong, some things are unpredictible. Unfortunately i closed my long term trade too early. I forgot to consider the long term patterns are stronger than short term. Its a lesson lo learn......
ashif030
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yes.....does not matter........last few days you have given some nice analysis.........I am waiting for your next chart analysis.......:-)
FullTimeTrader
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Just be carefull, although i publish many ideas here you must choose only one or two maximum at the same time, better if there are not correlated.
ashif030
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ok.....
ashif030
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trigger......
FullTimeTrader
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Yes, im already im. The CAD rate news move the price to the downside very quickly, but the retracement sometimes is strong too. I think the 0.38 target is more realistic now.
FXROCKSTAR
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Got it! Sorry I must have read your post too quickly you have a good PRZ entry long setup already! Nice job looking forward. 4hr is going to be a good setup.
FXROCKSTAR
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If you review this trend and its HWB swings you will see there is about5 or 6 of them. And they are getting weaker and weaker, the last one pierced the 61.8% retracement but continued long. I believe the big money will flip this pair soon. Not saying your trade is invalid, just being the devil advocate :)
Other then that, nice clean chart!
FullTimeTrader
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Hello, long term im bearish for this pair according to my W1 analisis
tradingview.com/v/Bm8ex19f/ But short term (thats why i wrote GBPCAD-H4), i expect a bounce at this PRZ at least to the 0.38 target .
Best regards