GBPCADA short position I slowly stepping into. I am aware of the possibility of a reverse. The magic T (not drawn on this chart) is telling us cash have been build up and it might go long soon. But I have a feeling there is a bit to be gained here before that happens. This one should be traded carefully. I have a tight 100 pip stop loss and just a minor position in it.
Gbpcadbuy
BUY GBPCAD ABOVE SUPPORT 1.90000BUY FX:GBPCAD
Counter Trend Line Break
Bullish Engulfing Candle Stick Formation/Bullish Bias
Support @1.9000 is holding/ Price broke above Previous Strong Resistance in March 2016
Price is above UP Trend line
4H StochRSI is OVERSOLD and GOING UP
Buy @ Market Price\
Stop Loss 10 Pip below Las Low Price
Target 1.27 Fib Level of last bullish AB Boundery