skymtrader
Short

GBPCAD SHORT HEAD & SHOULDERS

FX:GBPCAD   British Pound / Canadian Dollar
400+ pips to traditional support and/or the weekly channel trend line support!!!

Could likely continue during Sundays Asian session possibly retracing up to top of trading wedge before continuing south or not...good luck!

KEEP THE RADARS UP!!!
Hi,

If you look at this chart right now on the same timeframe , it looks like this could be the real break of the H&S neckline because it looks like price broke through it and is now retesting it. Hopefully this time it will play out and head down in a strong downtrend. My only concern is that the CAD is tied to Oil prices and they are manipulating the Oil prices so much that we don't know how this pair will react.

But with all that being said, I will be watching this pair like a hawk. I may be posting my own view on this sometime this weekend because I do see something powerful setting up.

Good positive pips to you!
Reply
skymtrader FractalEyeZ
Agreed! I'm favoring long plays. Another down move may likely be a retrace only. I will be posting entry ideas in any case. Best wishes for your trading
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