yes True, watch this snap you will understand more.
Gbpcad Pair is a under selling pressure.
A.
Over all week trend buy and touch two support trend line. waiting for touch third support level. so overall buy
B.
Now Current trend in day chat sell trend.Market moving after touch resistances it going down.yes.Good Price Action Pattern Created so action begin soon
One more Good point is 100EMA Crossed resistance with price action.It is good sign for sell trends continuation.even it could break weekly support line if CAD move strong or GBP move the opposite for reversal news
C.
If we watch 4hour time frame here also creating good sign for down trend using Fibonacci tools.if fibonacci retraced 50 and 61.8 it moved perfect trend from here.
Trade setup:
1.Money management must use
2.wait for price action conformation
3.Risk and Reward ratio:
1:1 is scalping trader and use standard lot .if Account balance: 5000$
1:3 for Swing Traders and use mini lot. if Account balance: 1000$
1:5,1.6 for position Traders and trade depend your account balance
you can book more profit from this guidelines .for more queries command me i will explain for you..
Thank you Friends....
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Tamiz-தமிழ்