GBP/CAD has remained above the 200 day SMA and the Weekly Pivot and has just climbed above a clearly defined pitchfork (XY). Price is also moving north of a second channel (AB). I'm LONG from 2.0156 with an initial target of WR1 at 2.0357
Trade active:
STOP moved to 2.0052 on this trade
Trade active:
I use 2 types of STOPS. A hard STOP that I will not change and a soft STOP that I will adjust depending on how the trade develops. Yesterday saw some very choppy price action on this pair but I remained reasonably confident that my analysis was correct. This trade now has a hard STOP at 2.0014 which is just below yesterdays low. As long as we don't sink below the upper edge of the XY pitchfork, this trade may make progress.
Trade closed: stop reached