GBP/CAD Technical aspects:
- We have an inverse head and shoulders
- Trend-line up
- Fibonacci retracement
What to do now?
You have many options - what does your trade plan say to do?
- You could take the fade trade down to 0.618 or 0.382 areas
- Wait for the pull back see if the pattern of inverse pattern stays take the high risk reward trade and take the trade up to 161.8 areas
- If you're certainly a skilled trader - take the scalps to either directions combining both ideas!
Executing trade:
- Add alerts
- Feeling brave - add orders in!
Fundamentals:
- It's the end of the week of the month
- FOMC on tap today!
However, keep in mind stay disciplined stick to what your plan says - this is just a guide!
Remember: Just an idea, not a recommendation.
- We have an inverse head and shoulders
- Trend-line up
- Fibonacci retracement
What to do now?
You have many options - what does your trade plan say to do?
- You could take the fade trade down to 0.618 or 0.382 areas
- Wait for the pull back see if the pattern of inverse pattern stays take the high risk reward trade and take the trade up to 161.8 areas
- If you're certainly a skilled trader - take the scalps to either directions combining both ideas!
Executing trade:
- Add alerts
- Feeling brave - add orders in!
Fundamentals:
- It's the end of the week of the month
- FOMC on tap today!
However, keep in mind stay disciplined stick to what your plan says - this is just a guide!
Remember: Just an idea, not a recommendation.