GBPCAD Reversal Price Action. Good for 200 Pips.
Hello Traders,
There are several reasons to short this pair.
The daily candles are bearish for the past couple of days at this resistance zone. The price action is good to go for a short trade.
The reversal zone is previous structure support turned resistance now and also at 61.8 fib.
RSI Divergence in 4 hour chart.
I shorted this pair at 1.8730. It's good to short from 1.8690. Stop loss should be above 1.8765 and the first target will 1.8500 which gives nice RR.
Good Luck!
There are several reasons to short this pair.
The daily candles are bearish for the past couple of days at this resistance zone. The price action is good to go for a short trade.
The reversal zone is previous structure support turned resistance now and also at 61.8 fib.
RSI Divergence in 4 hour chart.
I shorted this pair at 1.8730. It's good to short from 1.8690. Stop loss should be above 1.8765 and the first target will 1.8500 which gives nice RR.
Good Luck!
Comment:
100 pips down already. These cross pairs move faster and give less wait time for each trade than EURUSD, the supposed to be the most traded pair, which is very slow moving these days.