GBPCAD Break-out Performance Speculation (Long-Term) - Part II
Updated
As described in the original idea, we still believe on the long move of the price due to the formation of the falling wedge.
The bottom support has moved short a few pips but the formation is still valid (to my eye).
Please monitor to avoid a false break move, be wise to wait and confirm the move using other means, timeframe and/or indicators.
The stop losses should be fair, under the previous structure support at the 1.63900 region while take profits are set according to expected performance and previous structure resistances. Adjust to fit your trading style.
All feedback is appreciated.
The bottom support has moved short a few pips but the formation is still valid (to my eye).
Please monitor to avoid a false break move, be wise to wait and confirm the move using other means, timeframe and/or indicators.
The stop losses should be fair, under the previous structure support at the 1.63900 region while take profits are set according to expected performance and previous structure resistances. Adjust to fit your trading style.
All feedback is appreciated.
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