Synapse
Long

GBPCAD Long Triangle Pattern Breakout

FX:GBPCAD   British Pound / Canadian Dollar
Greetings! Although the most ideal entry was just missed (right around 2.0008) because of the magnitude of this trade, it is still not too late to enter.

This trade has been forming since August of 2015. Just this week we had our first daily candle break the top side of the triangle and close well outside of it. As someone who pays close attention to Support/Resistance and Price Action/Candle Closes this was a huge red flag, the trade is about to be underway.

I suggest placing stop losses under the current 4-Hour supported leg and psychological number 2.0000. Targets to the upside are located around the previous 2 highs in the triangle at 2.0500 and 2.0800 areas.

Please do your own analysis before entering any trades, feel free to comment :)
Comment: A break of 2.03 highs will offer further momentum to this trade
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out