GBPCAD, 4hr tf, sell the bearish engulfing rejection

2020년 11월 4일

Hello my friends,

Another setup for you is GBPCAD pairs.
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As you can see there is a bearish engulfing rejection exactly at 1.7180 resistance.
There is also descending trend line at this area so we could say this is an area of confluence.

Previously i posted about GBPCAD bearish with elliott wave analysis

Some friends might not able to catch those trade and being left out.
Well, don't worry because this could be another opportunity to enter here.
As for those who already enter this trade, then you could use this opportunity to add some more positions.

Sell GBPCAD 1.7170
Stop loss 1.7240
Take profit 1.6960

RR ratio 1 : 3 (3R)
Use only 1-2% risk
Good luck

Disclaimer : I sold GBPCAD from 1.7170