Greetings Fellow Traders,
Structural update for GBPCAD shows 2 very important characteristics that occurred within the last 2 days of trading. First and foremost the Parallel Channel that was identified caused a market reaction and then was confirmed broken. Furthermore...the key technical level that has been suppressing the GBPCAD from any bullish advancement has finally been confirmed to be broken.
There are 2 ways to trade this opportunity, personally I will wait for the retest of the parallel channel. However, do to the nature of the 2.03300 level it's possible that the trade will not become active.
Trade Opportunity:
Buy Limit 2.0260 or Manual Entry
Stop Loss 2.0175
Take Profit 1: 2.0500
Take Profit 2: 2.0800
Please do your own analysis before entering a trade. If you like what you see, feel free to share it, follow, comment or "like"
Structural update for GBPCAD shows 2 very important characteristics that occurred within the last 2 days of trading. First and foremost the Parallel Channel that was identified caused a market reaction and then was confirmed broken. Furthermore...the key technical level that has been suppressing the GBPCAD from any bullish advancement has finally been confirmed to be broken.
There are 2 ways to trade this opportunity, personally I will wait for the retest of the parallel channel. However, do to the nature of the 2.03300 level it's possible that the trade will not become active.
Trade Opportunity:
Buy Limit 2.0260 or Manual Entry
Stop Loss 2.0175
Take Profit 1: 2.0500
Take Profit 2: 2.0800
Please do your own analysis before entering a trade. If you like what you see, feel free to share it, follow, comment or "like"
