I am new to trading and recently started to publish my analysis. Any advice or feedback is welcome via comments or in the chat. Looking for opportunities to learn new information & techniques.
I have done some analysis on the GBP/CAD . The analysis has been done on the 1 hour candlestick chart with the trendline being drawn on the 4hr and I will be keeping an eye on this pair.
There is a strong resistance line 1.777 which has been tested around 5/6 times. This is where you can also see a triple top forming. Which is a signal for the price to start to go down.
It has touched the trendline three times over the past week and also the resistance line.
I would place my:
SL @ 1.782
TP @ 1.760
lets see how this plays out
I have done some analysis on the GBP/CAD . The analysis has been done on the 1 hour candlestick chart with the trendline being drawn on the 4hr and I will be keeping an eye on this pair.
There is a strong resistance line 1.777 which has been tested around 5/6 times. This is where you can also see a triple top forming. Which is a signal for the price to start to go down.
It has touched the trendline three times over the past week and also the resistance line.
I would place my:
SL @ 1.782
TP @ 1.760
lets see how this plays out
Trade closed: target reached:
As you can see the TP was smashed I may have had my TP a little to tight but over all a good trade if may say so myself