FX:GBPCAD   British Pound/Canadian Dollar
726 12 15
GBPCAD             just broke a beautiful trendline so we get an easy 150 PIPS before it might maybe reverse to keep going up!
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Simple trade
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is the trade being based on the trendline break alone?
+1 Reply
Take a look at how long this trendline as been respected! Good sign of a small retracement. I normally swing trade, but this short term setup can be interesting!
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Hi Jolicoeur342:

Just started following your charts. Question about this setup on the GBPCAD...what is your entry and risk management strategy? I see where you are entering but where is your stop and how do you manage the trade? Where do you get to break even if you do at all?

Thanks in advance.
+1 Reply
GoldHunter Pathfinder
I think SL should be at 1.72900 , TP up to 100 pips
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GoldHunter GoldHunter
R/R ratio not so good
+1 Reply
Not the best risk but still good chance to go there when you look at how long this trendline as been respected
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SL should be around 0.73000 TP 150 pips lower so its still above the 1 for 1 ratio. This is not a swing trade as i usally do, but i scalp!
+1 Reply
jolicoeur342 PRO jolicoeur342
a scalp**
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GoldHunter jolicoeur342
I agree , although the spread is too high , I went in this trade ; Cheers !
+1 Reply
Thanks!
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Correct! However, above 1.7240-50 the bullish view dominates again.
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