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glennmercer

GBPCAD Short: Cypher + Triangle + 500D SMA

Short
British Pound / Canadian Dollar (FX:GBPCAD)  
glennmercer Updated   
FX:GBPCAD   British Pound / Canadian Dollar
Trend Analysis Wave Analysis Chart Patterns GBPCAD Cypher glennmercer gmercerfx Elliott Wave EW
11
3
trendanalysis waveanalysis chartpattern gbpcad cypherpattern glennmercer gmercerfx elliottwaves ew
Hey traders, looking for short opportunities at this level. I like a weak GBP and a strong CAD this week as the S&P is raging and should rally through the end of the year. Cypher is complete at this level as well as confluence with the 500 day SMA and a number of trendlines. Looking for bearish impulses as confirmation. May make a video to accompany this idea. Cheers.
Trade active
Comment:
Pair rejected exactly at entry and is moving along nicely. SL moved to B/E
Comment:
snapshot
The pair is starting to turn over and gain momentum. Moving along nicely. +99pips at this time.

Video to come...
Comment:
snapshot

Great drop in GBP and spike in CAD on CPI and retail sales numbers this morning
Comment:
snapshot
Still riding this trade out. Looks like we may see continued downside.
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