FullTimeTrader
Short

GPBCAD-oficially in downtrend-how to join it

FX:GBPCAD   British Pound/Canadian Dollar
900 7 20
Since we are in downtrend the trend is our friend. Some traders like only trend following trades, this idea could be interesting for them. Im both countertrend and trendfollowing, doesnt matter because market moves up and down in waves and not in straight lines, its simple.

I will look for an entry near the 2.015 level for this reasons:

- ema 55 as resistance (specially i rely on this my magic ema )
- corrective channel
- strong S/R
- 0.50 fib retracement

Best regards.
Comment: Trade triggered, SL and targets on chart
Trade closed manually: CLOSING ALL POSITIONS WITH SOME PROFITS DUE TO DIAMOND ON H4 CHART(SEE IDEA)
will GBPCAD be going down now accordance to your previous prediction?
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Yes, my bias is still short but it seems late for an entry now. Im short on USDCAD
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Let's go down now?
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that was helpful data! good work
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https://www.tradingview.com/u/MustafaErsoy/#search-charts=FX:GBPCAD
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It is in down trend than why it is necessary to put SL
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It depends on your trading style, its not a law, you can trade without SL if you wish. most traders uses SL and targets. regards.
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