I am long on GBPCAD for the following reasons:
-C&H formed
-On the 1H timeframe price held extremelly well support on the 50 MA, and is ready to test supply zone again
-Bullish MACD cross
ENTRY: above resistance of the C&H pattern
SL set tight, as any moves under 1.744000 would invalidate the plan.
Once it breaks out of the Cup and handle, there are 3 price targets:
PT1: 1.76000
PT2: 1.76800
PT3: 1.77820
Good luck!
-C&H formed
-On the 1H timeframe price held extremelly well support on the 50 MA, and is ready to test supply zone again
-Bullish MACD cross
ENTRY: above resistance of the C&H pattern
SL set tight, as any moves under 1.744000 would invalidate the plan.
Once it breaks out of the Cup and handle, there are 3 price targets:
PT1: 1.76000
PT2: 1.76800
PT3: 1.77820
Good luck!