GBPCAD: The Price Reversal from Solid Resistance Zone

British Pound/Canadian DollarFXCM

Description

⋅ Dec 11, 2019 10:01 PM

The price reached the resistance zone. We got reversal candlestick patterns. RSI and MACD histogram confirmed the price reversal.

We have a sell opportunity, and it is possible to search for entry points using the daily and hourly timeframes.

Stop orders must be placed above the local swing high. Profit targets are the support zones.

Comments

paulfrancis89

⋅ Dec 13, 2019 5:05 AM

I traded this and got stopped overnight. GBP spiked across all pairs.

Antonio_trader

⋅ Dec 12, 2019 8:22 AM

Thanks for the update! The elections are today so probably no action until the results start coming in. Tories win, GBP spikes. No majority and it sinks.

DLavrov

⋅ Dec 12, 2019 11:31 AM

@AntonioFX777, we will see. Thanks for your comment!

kizenbahs

⋅ Dec 12, 2019 4:35 AM

Not yet

muhdarshad7

⋅ Dec 12, 2019 6:40 AM

@kizenbahs, when are you planning to sell

MissLenoir

⋅ Dec 12, 2019 12:26 AM

Thanks for sharing.
Really appreciated !

DLavrov

⋅ Dec 12, 2019 11:31 AM

@MissLenoir, you are welcome!