FX:GBPCAD   British Pound/Canadian Dollar
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The bearish momentum is strong now, i found this bullish crab at a strong support.

Be carefull because this is a counter trend setup.


Look at crude if you have some time...should be reversing now.
I still doubt the strength in GBP, it's weaker than EUR atm.
I entered an EURCAD long, to ride the correction, maybe give that one a look too.
FullTimeTrader IvanLabrie
You are right, the OIL and CAD are strongly correlated. I know the oil broke an important resistance today. As you mentioned the price does not follow only the fundamentals but does technicals corrections also. Here i want to make some pips waiting for the correction at least to the 0.38 target.
+1 Reply
IvanLabrie PRO FullTimeTrader
I have been watching this one to hop on board, as well as gbpaud and gbpnzd.
It's anticorrelated with my gbpjpy and audjpy shorts, so it offers a way to cover drawdown when these longer term trades retrace.
hey what do you think of my idea?
I want to buy small risk first, and let the price working up to daily closing!