Traders!
We have got pretty interesting trade here on the GBPCAD Daily Chart.
It is Inside Bar Price Action Formation. This signal tells us that we can sell with a Stop Order On The BREAKOUT POINT of that formation which is @ around 1.6403 level. This inside bar is completed at a key resistance level (the upper red one line), and that means a signal for a counter-trend trade
Since the Mother Bar of that Formation is quite big here, we can put our Stop Loss on a 50% retracement of the mother bar.
Good luck!
We have got pretty interesting trade here on the GBPCAD Daily Chart.
It is Inside Bar Price Action Formation. This signal tells us that we can sell with a Stop Order On The BREAKOUT POINT of that formation which is @ around 1.6403 level. This inside bar is completed at a key resistance level (the upper red one line), and that means a signal for a counter-trend trade
Since the Mother Bar of that Formation is quite big here, we can put our Stop Loss on a 50% retracement of the mother bar.
Good luck!
