Petr Suchanek
Short

GBPCAD short setup in focus

FX:GBPCAD   British Pound/Canadian Dollar
92 4 0
In terms of my unconventional trading methodology I express my short bias in the pair. Personally I am waiting for the "uptick" (false break, or retest of upper boundar).

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Masry
2 years ago
will you trade right at the start of the week or wait for more confirmation?
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Petr Suchanek Masry
2 years ago
I will wait for the start of the London session and then I will try to find out, whether my forecast is confirmed somehow...
Petr
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I was of the opinion to short too.. But tomorrow is BoC rate decision.. whispers of a possible rate cut as against a rate hike as previously thought. Also on Wednesday UK's unemployment data is due, which is showing to be inline with expectations.. Problem is, fundamentals point to a different direction compared to the technicals.. tricky scenario if you ask me.
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Petr Suchanek justatrader
2 years ago
Ok, one must be careful about news release, but usually the reaction to news is a part of my patterns. I do not usually take care of WHAT happens, but it is very important WHEN it happens and WHERE is the price. So take care and happy trading!
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