GBPCAD analysis
We have had a good period of bearish momentum. Price is currently in a correction phase. Using the trendline rules of entry, a buy position should be actively running, but because I saw signs of a pennant forming, I had to wait. The pennant has clearly formed. This chart pattern is neutral and price can go either way, which invalidates entries solely based on the trendline strategy. First/ minimum TP target should be the length of the pennant's back.
*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk. Exercise proper risk management and be patient.
#TradeLikeMagnatrio
*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk. Exercise proper risk management and be patient.
#TradeLikeMagnatrio
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.
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.