As the crocodile gets hungrier and hungrier, its mouth opens wider trying to fit more in. As it eats up all available equity its belly eventually explodes.
I expected a bounce at 1.53 but breaking through there made me short. Targeting 1.5211 short term but very possible it breaks through there. If so next target is 1.50.
GBPCAD has been riding this trendline consistently. Look to buy on on this and play through 1.826-1.83. Stops can be tight.
In short from earlier but watch for a close below 1.591 and a possible retest of that area to get short again. Could descend to 1.52-1.53 if that's the case. First target being 1.55.
Very low RR if triggered, could get up to 700 pips if aiming for 1.38 region. Likewise can monitor if it clears 1.46 to go long. Sadly two weak currencies but which is the weaker?