A Short For Fib Lovers

FX:GBPCAD   British Pound / Canadian Dollar
95 2 2
The suggestion based on this chart would lead one to believe that sellers will enter the market. Risk can be limited to a half a percent and the reward lends itself to enough for a respectable trade. All eyes are on the one third pull back level in this bear market rally. Assuming that the institutions are looking at the same level, then this could have a move back to the mid 1.70's since the extended move may provide an excuse for those traders long from below to take their profits
Right. I've just closed my long with a nice profit and gone short.
WitchDoctor ForceFollower
Good move. Hope you got a good squeeze out of that one. Confirmation on the daily chart will invite some more selling
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