If we Look at this chart, there seems to be a reversal at 1,8048 followed with a drop. Hence, i think we can start to short GBPCAD.
Be aware that this chart still has an upward trend and if we draw diagonal line from the bottom to the top, I would expect some retracement period at 1,7410, so you can take some profit here.
IF this this chart passes the line followed by a pullback, i would target the 0.5 level, but if there is major resistance at the upward trend line, i would close this trade with the profit.
Let's see where it goes
T/P1 at 1,7410 T/P2 at 1,6939 S/L at 1.8070
Please don't risk more than 2% of your capital
Hope you get some profit from this idea
Cheers!
Trade closed: stop reached
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Hey guys,
got S/L on this trade. will try to observe if shorting again is a good idea