ForceFollower
Long

GBPCAD Completing the Cycle

FX:GBPCAD   British Pound/Canadian Dollar
83 5 4
Cycle-wise we're bound for another Higher Low. I expect it to happen at 1.83. Unless something else happens (ie. it goes straight up now, or plummets to test 1.8), I find it a good idea to enter below the recent low, but above the prior low. The SL in place, of course, risking 1.0 R (first 0.5 R, then adding another 1R, if market co-operates).
itaskar
2 years ago
hi,my entry will be around 1.8230, the lowest line of your buy zone, stop loss below my trendline
snapshot
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ForceFollower itaskar
2 years ago
Very well conceived. It should be a perfect hit, as the third tests of trend lines are often successful. You've also marked that this entry point would be some kind of a nexus, where multiple sloped support lines coincide.
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ForceFollower
2 years ago
Whoever entered long in my buy zone should be well served. Good luck! :-)
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itaskar ForceFollower
2 years ago
haha, iam short from 1.8442(tp 1.8250), all the pips are now gone :) i could use your buy zone for target.. :)
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ForceFollower itaskar
2 years ago
Don't worry. It's going down again, either in order to reach the 1.83 level or only retracing down to 1.8375. I don't know.
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