GBP/CAD rolling over under 1.75? Short

British Pound/Canadian DollarFXCM

Description

⋅ May 5, 2020 3:18 PM

My last GBP/CAD idea rolled over, so I’m just responding to what the market is doing. I can go 1 for 5 with the proper R:R, so losing a trade is part of the process. Looking at the this idea under 1.7500.

Entry: 1.7498
Stop: 1.7550
TP1: 1.7280
TP2: 1.7000

Comment

⋅ May 5, 2020 6:41 PM

Moving stop to breakeven as I do not expect a retest of 1.75 if this market is going to drop. Will reassess price action if stopped out.

Trend Analysis