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
TradersClassroom
2 years ago
I really like this trade. It looks very clean cut. Great Risk/Reward! Good Luck!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out