If GBPCAD completes at that 1.618% zone, then it could be a 70 pip swing to the upside. This is on the 15 min timeframe. Typically, I would be aggressive and set a pending order for the patterns completion, but I like to have a tight SL for the small risk big reward. In fact, back on Jan. 08, this pair has a strong 4HR level of support at 1.71870, so that may be the ideal entry. The RSI is also showing signs of the market getting ready to turn.
I'd keep an eye on this pair maybe set an alert for the 1.618% level to notify you that the patterns been complete. We'll see how it goes...
Entry Area: 1.71870
SL: 1.71668
TP1: 1.72152
TP2: 1.72327
TP3: 1.72609
I'd keep an eye on this pair maybe set an alert for the 1.618% level to notify you that the patterns been complete. We'll see how it goes...
Entry Area: 1.71870
SL: 1.71668
TP1: 1.72152
TP2: 1.72327
TP3: 1.72609