GBPCAD had a decent slow and choppy retracement up to 50%
My view is and has been a longer term bearish move.
Anticipating on a possible flag formation on lower time frame (possible H4 or even H1)
Keep in mind that ema200 on Weekly chart has acted as a great hold of Dynamic S&R
A daily action on Monday for a red day closed would be preferable to open up more continuation.
Trade smart and trade safe.
My view is and has been a longer term bearish move.
Anticipating on a possible flag formation on lower time frame (possible H4 or even H1)
Keep in mind that ema200 on Weekly chart has acted as a great hold of Dynamic S&R
A daily action on Monday for a red day closed would be preferable to open up more continuation.
Trade smart and trade safe.
Note
Moving fast after a choppy/corrective couple days.
Note
Follow through
Note
Tp1 done
Expecting a bounce here with some corrections before another move down.
Note
Got that bounce as anticipated. Sometimes I scare myself lol
Note
Correction week so far, Let's see if CAD news will provide a continuation or a deeper correction.Note
Finally broke out.. lets see if we can get some continuation moveNote
Adjusted TP to 0.7082
2 things to always always and Always keep in mind
1. Discipline
2. Patience
All great investors or traders will speak the same tone. One must build it into your second nature to follow.
The other stuff will work itself out.
Note
Done. Very good trade with low risk.
Now it’s time to seek an opportunity to trade the deeper correction
Trade closed: target reached
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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.