GBPCAD sell@1.71035
SL@1.70379
TP@1.73033
Being bullish on the pound has been a good choice almost at all times for the last months.
Last weeks it retraced a bit, then some range, and now a little impulse (green).
The 50%-60% zone + 200EMA gives a good entry point, with extremely good Risk/Reward ratio. Since it is currently going down with force, it could very well go down to 78%, and a reentry might be reasonable.
SL@1.70379
TP@1.73033
Being bullish on the pound has been a good choice almost at all times for the last months.
Last weeks it retraced a bit, then some range, and now a little impulse (green).
The 50%-60% zone + 200EMA gives a good entry point, with extremely good Risk/Reward ratio. Since it is currently going down with force, it could very well go down to 78%, and a reentry might be reasonable.
Note
So far good price response. I think 1.71 zone could be retested easily, and that wouldn't disable the setup, so Stop Loss will be kept the same for now.Trade closed: target reached
It went well. Price rose fast.
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Disclaimer
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.