HayatoDragonFX

GBPCAD, 4hr tf, double top pattern with ichimoku confirmation

Short
FX:GBPCAD   British Pound / Canadian Dollar
Hello my friends,

Another possible setup for GBP cross is GBPCAD pairs.

I am looking for a sell position in this pair as my screener showing this pair could go lower.
Some confirmations already met and we could try selling this pair on a retracement to 1.7100 area.
Noticed also it looks like this pair making a double top pattern and i think price already breached the neckline once with a solid candle close below it on 4hr tf. Price then bounce from the neckline support but it only bounced a litte compared to the previous bounce.

I think we could see price continue south soon so we will set a sell limit order to get a more rewarding RR ratio

Sell limit GBPCAD 1.7100
Stop loss 1.7160
Take profit 1 at 1.7040
Take profit 2 at 1.6980
Take profit 3 at 1.6920

RR Ratio is 1 : 3
Use only 1-2% risk
Good luck

If you find this post useful please drop a like and follow me for my next update

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out