markuspd

Breakout or double top and reversal?.

FX:GBPCAD   British Pound/Canadian Dollar
59 0 7
Technicals point to a top forming but I am in this trade hoping for a breakout but knowing that it probably wont happen.
Comment: I closed my long position on this trade for a small gain, and ready to go long or short whichever way price action goes.
Comment: I opened another small long trade, see what happens.
Comment: This trade isn`t a typical breakout, be wary of a sharp reversal.
Comment: The ks is now pointing up and we are building some momentum.
Comment: Daily chart gives me hope that price may go above 1.70000 level.
Comment: I dont use a stop loss most times, this time it probably saved me although price fell to the ma21 and my stop would normally be below it.
Comment: This has been a good trade but I would recommend looking at taking some profits and exiting the trade on the next good candle if not before.
I guess there is still some more upside but it is looking less solid right now overall.
Comment: If this candle becomes a reverse pinbar its time to look for shorting opportunites.
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