GBPCAD - In Bullish Trend

Jul 23

GBPCAD is in bullish trend. I have plotted ABCD Bearish Reversal Harmonic on the chart on 1D time frame which this chart has complimented. Currently the chart is on its way to point D for trend reversal. There is a bearish divergence on this chart which is not that strong (2nd peak below RSI level of 70) which might put chart on sideways for a while. The sentiments for this chart is also towards Short Selling. But the indices for both the currencies (BXY & CXY) are indicating towards a Long trade (BXY is bullish and CXY is bearish). My final analysis is on 1H time frame and I have opted to go for a long trade.

The Signal is:

EP: 1.78024
SL: 1.77449
TP: 1.7917 (1:2)
RR: 0.25%
Lots: 0.05

Jul 25

Trade active

Still Running.