GBPCAD LONG INTRADAY BREAKOUT TRADE SETUP Long

British Pound/Canadian DollarFXCM

Description

⋅ Feb 8, 2017 3:06 PM

Hi guys:

Here is another take on GBPCAD LONG targeting the next daily resistance level around 1.6700
and 1.7000.

4 HR chart developed a bullish flag pattern, with a nice low test at horizontal support @1.6430
and main pivot, looking for a break out to the upside.

Target 1: 1.6700 (4.17% Profit)
Target 2: 1.7000 (9.17% Profit)

Thank you for your support and feedback.

Trade: #19
Date: 02/08/2017
Time: 14:00 GMT

Trade active

⋅ Feb 8, 2017 3:08 PM

Here are the other time frames:

Trade closed: stop reached

⋅ Feb 10, 2017 5:47 PM

4 HR broke down support of 20/50 EMA, horizontal support line #1.1.6430 for 1% loss.

Comments

ernstschwarz

⋅ Feb 10, 2017 6:07 PM

taff luck. better luck next time.

and a warning to all newbie traders: make sure not to lose more than 1-2% for your total trading money on a single trade idea!!

jojofang0901

⋅ Feb 10, 2017 7:05 PM

@ernstschwarz, Thank you for sharing your opinion

smart_teast

⋅ Feb 9, 2017 3:42 PM

Thanks

smart_teast

⋅ Feb 9, 2017 2:43 PM

Masta,
Still valid?

jojofang0901

⋅ Feb 9, 2017 3:41 PM

@smart_teast, valid as long as support @1.6430 holds on.