Long journey to 1415 pips

After failed to break support zone, GBPCAD break up parallel channel down, and forming cup and handle consolidation pattern.
This is fresh start to begin long journey to reach double top at monthly 618.
With this setup, we have 4 target :
a. CSR as first target at 1.6723
b. 618 H4 TF at 1.7059
c. Daily chart fibonacci retracement at 1.7254
d. Double top are the last target for monthly chart fibonacci retracement at 1.7748
With agressive stoploss bellow support zone (1.6210) this setup have R/r ratio 1:21

Open long : 1.6328
Stoploss : bellow support zone at 1.6210 or use your money management rules
Takeprofit : 1.7748
target profit in pip : 1415 pips
Risk and reward ratio = 1:21

Disclaimer :
This analysis not include personal feeling/opinion, and pure base on technical analysis
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.

Zlecenie aktywne:

small timeframe setup (M15 timeframe)

Komentarz:

keep an eye on this news :
GBP Bank of England Rate Decision
GBP BOE Asset Purchase Target
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shift your stoploss to + position

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Reach profit at Checkpoint 1, +430 pip ^^
congrats

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new update :

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Anulowano zlecenie:

trend change, analysis close