GBPCAD sell@1.71035
SL@1.70379
TP@1.73033
Being bullish on the pound has been a good choice almost at all times for the last months.
Last weeks it retraced a bit, then some range, and now a little impulse (green).
The 50%-60% zone + 200EMA gives a good entry point, with extremely good Risk/Reward ratio. Since it is currently going down with force, it could very well go down to 78%, and a reentry might be reasonable.
SL@1.70379
TP@1.73033
Being bullish on the pound has been a good choice almost at all times for the last months.
Last weeks it retraced a bit, then some range, and now a little impulse (green).
The 50%-60% zone + 200EMA gives a good entry point, with extremely good Risk/Reward ratio. Since it is currently going down with force, it could very well go down to 78%, and a reentry might be reasonable.
Comment:
So far good price response. I think 1.71 zone could be retested easily, and that wouldn't disable the setup, so Stop Loss will be kept the same for now.
Trade closed: target reached:
It went well. Price rose fast.