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Fed02

GBPCAD 1:4 RR swing trade Trading the retracement!

Short
British Pound / Canadian Dollar (OANDA:GBPCAD)  
Fed02  
OANDA:GBPCAD   British Pound / Canadian Dollar
Fibonacci Support and Resistance Multiple Time Frame Analysis GBPCAD gbpcadshort GBP pund CAD forexanalysis swingtrade highprobability
3
1
fibonacci supportandresistance mtfa gbpcad gbpcadshort gbp pund cad forexanalysis swingtrade highprobability
Confluences:
-Price structure has been beautifully bearish (LL, LH)
-Trendline has been created and tested three times
-Enter on the 50 fib retracement (on the 4H)
-Stop above the 78.6
-Take profit at the first bullish trendline (daily timeframe)
-Also price broke and is soon retesting a major resistance zone (blue rectangle)

Feel free to tell me your thoughts!
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