Technician
Short

GBPCAD: Pin Bar at Clear Resistance

FX:GBPCAD   British Pound / Canadian Dollar
1317 12 23
Update: 1st target reached, moved stop loss to entry. 2nd half stopped at entry.
Profit(pips)=80

----------------------------------------------------------------------------------------------------------------------------------

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
Join me at https://twitter.com/thefxchannel
Also at my Facebook             page http://www.thefxchannel.com
My best regards,
Technician

==================================================================
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
MEGA 70% DISCOUNT ON 3 AND 6 MONTHS PACKAGES . Get it before offer expires : https://thefxchannel.com
Update: 1st target reached, moved stop loss to entry. 2nd half stopped at entry.
Profit(pips)=80
+2 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 PRO CryptoFactor
There was no gamble involved I believe...sound technicals from multiple disciplines aligned. :)
+1 Reply
thank you technician
+1 Reply
i'm in @1.8253
Reply
BE and free ride..., thank you Technician
+1 Reply
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 PRO SwingAndPip
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
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
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
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out