GBPCAD Analysis. Another signal!

elmakacho Updated   
FOREXCOM:GBPCAD   British Pound / Canadian Dollar
Hello everyone. i want share my idea about GBPCAD which will be signal from me.

After some pretty strong bearish movement today we saw some up movement of GBP but at the pair it it was the prettiest high for enter short position, because at higher timeframe price fall is without almost high and this is so strong, which is absolutely falls change the trend.

I used my fibonacci levels for find some good entry point at 4 h timeframe and after touch this level it had strong reaction three times which fall price from here.

Here is my setup for that signal.

Open Short Position - 1.646

Stop Loss - 1.645

Take Profit - First target 1.63587 and then i will trail my stop loss here if it will reach.

Always Manage your risk and make your own research!!!
Price movement what i predicted didn't went exact but picture is positive for me because we got another strong rejection from Fibonacci 78.60 LVL.
If you are in this trade congratulations!!!
Trade closed: stop reached:
it was going pretty good but…


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.