GBPCAD has broken a head & shoulder which I had analysed on August 22nd, retraced perfectly towards the shoulder to act as a momentarily support. Thus, GBPCAD might be having a pretty decent reversal right now.
Currently, waiting for a retracement back to strong H4 support level ( 1.63267 ) , looking good to capture take profit towards TP3 as its at a psychology
level ( 1.68000 ) + Fibonacci 0.5% as a major rejection. Sell Limit to be set on that level.
H1 & H4 had already rejected once on the major support level , so if you're patience you can wait for the double bottom to be form, if not you can enter for a intraday profit of 25 pips :)
Fundamentally speaking, as higher-ups of UK is hinting that there might be a chance of a deal-brexit. If it happens to be bad we might be going back down to trendily of heads & right shoulder, if it breaks however, prepare to sell.
Trade safe :) , August 22nd analysis on this pair will be in the comments .
Currently, waiting for a retracement back to strong H4 support level ( 1.63267 ) , looking good to capture take profit towards TP3 as its at a psychology
level ( 1.68000 ) + Fibonacci 0.5% as a major rejection. Sell Limit to be set on that level.
H1 & H4 had already rejected once on the major support level , so if you're patience you can wait for the double bottom to be form, if not you can enter for a intraday profit of 25 pips :)
Fundamentally speaking, as higher-ups of UK is hinting that there might be a chance of a deal-brexit. If it happens to be bad we might be going back down to trendily of heads & right shoulder, if it breaks however, prepare to sell.
Trade safe :) , August 22nd analysis on this pair will be in the comments .
Trade closed: target reached:
SL hit unfortunately
Trade closed: target reached:
Took a sell trade on H1 resistance, fundamentally pound weak an hr ago. 80 pips profit :)