Technician
Short

GBPCAD: Shorting Again on a Probable Pullback #forex

FX:GBPCAD   British Pound/Canadian Dollar
1660 5 37
Shorting the pair once more..
The pair could be ready for a hefty pullback
- The price hit a confluence of monthly resistance and 161.8 extension level for the latest bearish wave
-RSI is showing bearish divergence
-A pin bar at that resistance area

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
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Good luck, keep your stops tight..
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Technician
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Daniel.B
2 years ago
The recent Daily candle discouraged any long opportunity I was looking at in the pair. Lol Great chart as always =D
Reply
metaldome
2 years ago
There's a higher uptrend as well in play it may head downwards towards above the one you've shown.
Reply
CarlosEspeleta
2 years ago
Tech, still in play this setup?
Reply
Technician TOP CarlosEspeleta
2 years ago
Yes mate
Reply
Technician TOP CarlosEspeleta
2 years ago
i didnt get the entry yet
Reply
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