Hi Traders,
Today $USDCAD made a new yearly high above 3352 and trend line on RSI there is also breaking which indicates more upside is to come. However, I prefer to sell $CAD against other currencies too and one of them is $GBPCAD.
I am buying $GBPCAD here with Stop loss bellow today's low and TP at 78,6% fib around 2.0750, a Risk/Reward bigger than 3/1.
Also on this $GBPCAD 4hr, we can see that RSI trend line is also breaking here AND I know alot of traders that are saying that we have a Head & Shoulders here BUT that formation ONLY comes into play when he breaks the neck line, which still did not!
A big up move here can stop out many sellers!
Good luck to us!
Thiago Duarte
@thiagotrader
thiago@duarteinvestmentgroup.com
Today $USDCAD made a new yearly high above 3352 and trend line on RSI there is also breaking which indicates more upside is to come. However, I prefer to sell $CAD against other currencies too and one of them is $GBPCAD.
I am buying $GBPCAD here with Stop loss bellow today's low and TP at 78,6% fib around 2.0750, a Risk/Reward bigger than 3/1.
Also on this $GBPCAD 4hr, we can see that RSI trend line is also breaking here AND I know alot of traders that are saying that we have a Head & Shoulders here BUT that formation ONLY comes into play when he breaks the neck line, which still did not!
A big up move here can stop out many sellers!
Good luck to us!
Thiago Duarte
@thiagotrader
thiago@duarteinvestmentgroup.com