GBPCAD Sell Channel - 200+ Pip Opportunity
Welcome back friends! 2020 was an unfortunate year but a great year in Forex. No matter the economic issues going on world-wide there are always opportunities in Forex, this is why I love the market.
Trade 1 to start off 2020:
GBPCAD is in a wedge triangle formation pattern. I am definitely expecting a breakout but time will tell as we have technicals that align. For now everything is pointing south.
1. Price has been in this channel for 6 months with channel areas holding strong.
2. Down trendline (top channel) tested and bounced.
2. Stochastic RSI weekly, daily, 4hr all in sell zone.
Entry @ current price area of 1.7400 and pending at top of channel.
TP 1 @ 1.7200
TP 2 @ 1.7100
Always remember risk management and controlling your lot sizes.
Good luck and let me know if I can help in any ways!
Charles V
CVFX Management
Trading made Simple
2020 Growth: 206%
Trade 1 to start off 2020:
GBPCAD is in a wedge triangle formation pattern. I am definitely expecting a breakout but time will tell as we have technicals that align. For now everything is pointing south.
1. Price has been in this channel for 6 months with channel areas holding strong.
2. Down trendline (top channel) tested and bounced.
2. Stochastic RSI weekly, daily, 4hr all in sell zone.
Entry @ current price area of 1.7400 and pending at top of channel.
TP 1 @ 1.7200
TP 2 @ 1.7100
Always remember risk management and controlling your lot sizes.
Good luck and let me know if I can help in any ways!
Charles V
CVFX Management
Trading made Simple
2020 Growth: 206%
Comment:
Trade closed for 70 pips profit. Wait for a retrace to reenter or a break of this support line to reenter down to 1.7200
