$GBPCAD was the Requests Zone analysis on my last Weekly Markets Analysis newsletter addition two weeks ago..
The setup was based on the rising wedge and I've suggested to try and catch a continuation trade, following a daily Pinbar that came after a successful double top trade.
As you can see, the setup was violated as $GBPCAD broke out of the Wedge pattern and made new high.
At this stage, the Elite Zone received a setup for the bearish AB=CD pattern you see in the chart. In my members letter I mentioned that I think that eventually we would see the price breaking below the Wedge and that the new high could turn out to be a false break.
That's exactly what happened..
The setup generated more than 500 pips profit.
Those who didn't receive the letter (not being members of the Elite Zone), could have traded the False Break to the Wedge formation once the price broke below the pattern and stalled for few days.. This setup generated only 300 pips
Overall, although the initial setup was violated, $GBPCAD turned out to be one of the most successful trades we had in the Zone in recent weeks.
The setup was based on the rising wedge and I've suggested to try and catch a continuation trade, following a daily Pinbar that came after a successful double top trade.
As you can see, the setup was violated as $GBPCAD broke out of the Wedge pattern and made new high.
At this stage, the Elite Zone received a setup for the bearish AB=CD pattern you see in the chart. In my members letter I mentioned that I think that eventually we would see the price breaking below the Wedge and that the new high could turn out to be a false break.
That's exactly what happened..
The setup generated more than 500 pips profit.
Those who didn't receive the letter (not being members of the Elite Zone), could have traded the False Break to the Wedge formation once the price broke below the pattern and stalled for few days.. This setup generated only 300 pips
Overall, although the initial setup was violated, $GBPCAD turned out to be one of the most successful trades we had in the Zone in recent weeks.