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CBMotivation

GBP / CAD - Rising wedge - downside continuation - SHORT

Short
British Pound / Canadian Dollar (OANDA:GBPCAD)  
CBMotivation Updated   
OANDA:GBPCAD   British Pound / Canadian Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis
4
0
trendanalysis chartpattern beyondta
Wait for a pullback into the wedge, stops outside the pattern and be patient, after this mornings negative UK inflation, I'm expecting further downside on this pair.
Trade active:
10:20 - @1.72105
Trade closed: target reached:
That was a quick one, nice little profit to top up the pot. Hope you caught it. Love these ascending wedges.

snapshot
Comment:
Today will be one of those days when trades are trying to find their levels, break levels and support new trends, you can see this in the aggressive moves happening very quickly.

It's incredibly important you stay patient for an entry, don't enter to just be in the market and if you've got a trade on a long-term, swing trade, be prepared to see larger sideways movements and therefore don't sit and watch them, don't enter with anything less than a 15m timeframe and preferable a 1h.

Cad is weak, but not as weak as the Pound. not a good pair to trade, sideways action, especially with a downtrend on Oil
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