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UnknownUnicorn8714085

GBPCAD - Rejection At Resistance!

Short
British Pound / Canadian Dollar (FOREXCOM:GBPCAD)  
UnknownUnicorn8714085 Updated   
FOREXCOM:GBPCAD   British Pound / Canadian Dollar
Trend Analysis Chart Patterns Technical Indicators GBPCAD gbpcadshort rejection swingtrading
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trendanalysis chartpattern indicator gbpcad gbpcadshort rejection swingtrading
GBPCAD - Rejection At Resistance! After catching a 260 pip move to the upside on this pair, I am now taking a short position to a mid-level which would equate to +115 pips. Price has reached a key level of resistance and failed to break through. On lower timeframes I have seen various candlestick patterns that indicate that this pair will reverse. With a tight SL of -30 pips, this trade gives me a great R:R of 1:3.7. Time and patience will confirm.
Trade active:
+70 Pips. SL moved has been moved to entry (1.71646) and this trade is now risk free.
Trade closed manually:
+80 Pips.
Comment:
+115 Pips (Original Target Reached)
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