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!!!
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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.