GCAD saw a steep sell of during last Friday's trading session and has broken below a descending channel as well as a support level set around 1.71909.
With such a steep sell off, continuation could be possible if price shows a successful retest and rejection of previous support set at 1.71909.
My idea:
A short from 1.71909 could be possible with targets set at 1.70249.
Entry criteria:
Market order would be in mind for this trade. With such a steep sell off, I would like to see a nice rejection pattern before entering a short.
Will be keeping an eye on this during the next few sessions.
With such a steep sell off, continuation could be possible if price shows a successful retest and rejection of previous support set at 1.71909.
My idea:
A short from 1.71909 could be possible with targets set at 1.70249.
Entry criteria:
Market order would be in mind for this trade. With such a steep sell off, I would like to see a nice rejection pattern before entering a short.
Will be keeping an eye on this during the next few sessions.
Price is currently in a support zone and a long from this zone is possible.
Will be keeping an eye on PA.