GBPCAD 4H ABCD into a Major Resistance Area Short

British Pound/Canadian DollarFXCM

Description

⋅ Jun 15, 2023 10:51 AM

Here I can see an ABCD pattern unfolding into the previous Trading Range (TR). The completion area is in the resistance area of the previous TR. Therefore, I hoping for sellers to come in there. I am inputing an order at 1.69 with a 50 point stop.

Trade active

⋅ Jun 15, 2023 4:55 PM

I have been filled.

Trade closed: stop reached

⋅ Jun 16, 2023 12:55 PM

I have been stopped out for -50 pts

AB=CD Double Top or Bottom

Comments

JoeChampion

⋅ Jun 15, 2023 11:04 AM

I agree on CAD strength, thanks!

Sergio_196

⋅ Jun 15, 2023 11:27 AM

@JoeChampion, Thank you for your comment. Let's see how it turns out :) !