GBPCAD Long Pullback Trade
GBPCAD Long Pullback Trade
We rejected our HTF pullback zone and then returned above. Multiple confirmations on H4 - price rejected area between 50 and 100 MA, long-term support rejection, previous day low rejected.
Stop Loss below the recent low: 1.78851
Take Profit: 1.79819
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 later H1
- Close the loser before hitting full SL if the retracement extends and the price does not confirm the anticipated reversal.
- Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1 or if momentum weakens indicated by MACD oscillator, consider closing the remaining position early to lock in profits.
*No important news for GBPCAD today*
We rejected our HTF pullback zone and then returned above. Multiple confirmations on H4 - price rejected area between 50 and 100 MA, long-term support rejection, previous day low rejected.
Stop Loss below the recent low: 1.78851
Take Profit: 1.79819
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 later H1
- Close the loser before hitting full SL if the retracement extends and the price does not confirm the anticipated reversal.
- Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1 or if momentum weakens indicated by MACD oscillator, consider closing the remaining position early to lock in profits.
*No important news for GBPCAD today*
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