We have a triangle pattern formation in GBPCAD daily chart and if our strategy rules are satisfied then we will take a short here for target of 1.73300.
THIS CAN BE A GREAT OPPORTUNITY!! DON'T MISS IT :)
. There is still a possibility of temporary retracement to suggested resistance line (1.7125). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. GBPCAD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a...
GBPCAD after retracing 38.2% of the 6th May to 12th august trend has now fallen below the ascending broadening wedge pattern, which makes it vulnerable to selling up to 1.60690. The stop loss for the trade will be above the high of the previous session i.e. at 1.63747.