Short GBPCAD on negative Daily and Weekly momentum
Short GBPCAD with negative momentum on both Daily and Weekly (see upper and lower right).
Pullback towards EMA21 on 240 min has been made, which now functions as resistance (see upper left).
Uptrend is strong with ADX > 25 on 240 min.
Stop Loss @ 1,63770 (about 10 pips above high of pullback on 240 min). I will increase the Stop Loss to Break Even if 1:1 is reached, making the trade risk free.
I'm taking quarterly profits @ 1:1, 2:1, 5:1 and 10:1. I'll raise my Stop Loss if targets are reached.
Pullback towards EMA21 on 240 min has been made, which now functions as resistance (see upper left).
Uptrend is strong with ADX > 25 on 240 min.
Stop Loss @ 1,63770 (about 10 pips above high of pullback on 240 min). I will increase the Stop Loss to Break Even if 1:1 is reached, making the trade risk free.
I'm taking quarterly profits @ 1:1, 2:1, 5:1 and 10:1. I'll raise my Stop Loss if targets are reached.
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