Technician
Short

GBPCAD: Pin Bar at Clear Resistance

FX:GBPCAD   British Pound/Canadian Dollar
1313 12 23
Update: 1st target reached, moved stop loss to entry. 2nd half stopped at entry.
Profit(pips)=80

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I am short from 1.8255, as price hits resistance and shows hesitation, this area includes the 200-days SMA as well, so it worth a try with a tight stop.

Good luck
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My best regards,
Technician

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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:
1) If 90 percent of first target is reached I move stop loss to breakeven.
2) If 90 percent of first target is reached without triggering entry I cancel the trade.
3) Remember: Losing is a main part of the game
My live trades here https://telegram.me/joinchat/DgsnQ0FzifLqyI2YAoMqqQ
alex.a
2 years ago
So, you think either GBP goes down or CAP gets weaker ~ CAD weaker agree winter is coming, despite the Santa Rally, but GBP weaker??? Hummm ~
Reply
Technician TOP alex.a
2 years ago
Mate... This is a an 80 pip technical trade, where a cross like this one could make in a couple of hours.
+4 Reply
alex.a Technician
2 years ago
wookie dookie ~ gotcha ~
Reply
SwingAndPip
2 years ago
Hate to disagree but this trade could go either way it just depends on the data we see tomorrow. If the BOE is dovish well great, but if not then we could see GBPCAD skyrocket.
Reply
SwingAndPip
2 years ago
I feel like you have to consider when crosses like these are made. It's during a time of low liquidity and event risk so that dampens the probability of the trade success. Good technical setup tho, I like it!
Reply
IvanLabrie TOP SwingAndPip
2 years ago
I think gbpcad will go up, but this trade worked. I did my own take on it and confirmed a sell setup below 0.8218, 74 pip free ride. (shame I was asleep when it finally confirmed in 4h) :p
Still good, props to Technician for spotting this!
+1 Reply
iznogood
2 years ago
i'm in @1.8253
Reply
iznogood iznogood
2 years ago
BE and free ride..., thank you Technician
+1 Reply
thank you technician
+1 Reply
Great trade here tech, tiny bit of a gamble but the odds were more in your favour, and with such a tight stop loss.. why not...thanks
Reply
IvanLabrie TOP CryptoFactor
2 years ago
There was no gamble involved I believe...sound technicals from multiple disciplines aligned. :)
+1 Reply
Update: 1st target reached, moved stop loss to entry. 2nd half stopped at entry.
Profit(pips)=80
+2 Reply
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