informedtrades
Short

Short GBPCAD As Sharp Rally Runs Into Resistance

FX:GBPCAD   British Pound/Canadian Dollar
48 1 0
On GBPCAD             , we're seeing:

1. A sharp rally that has now run into resistance, with today's candle being the first tentatively bearish candle since September 5
2. A 50% pullback from the swing high on August 5 to the Swing low on September 7
3. Price is just above the 50 SMA , and is well below the 200 EMA
4. Signs of GBP weakness and CAD strength are visible on other currency pairs as well

In light of these factors, I shorted GBPCAD             at 8012, with my stop at 8128 and my target profit at 7616.

http://www.informedtrades.com
I really like this trade. It looks very clean cut. Great Risk/Reward! Good Luck!
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out