- Price is currently sitting on my D Level of support - Inverted hammer pattern sitting on S - I have Intraday Target levels for TP levels. - Being aware of RBA Monetary Policy Statement (HIGH IMPACT NEWS) on 08/02/19
By looking at the M TF i can see that the sentiment is indicating that this market is overbought, nevertheless i can also see on the 8 TF that LH and LL are being formed which suggests that this market has a chance of going lower. My target for this trade would be 76.000 to the next support area.
GBPCAD, Short on the 8TF. Trade took on the small indecision candle off the trend line bounce. Looking for a 2:1 Trade on this currency to the next support level