GBP/CAD SurprisetradeThe GBP/CAD Pair presented a bearish engulfing pattern on the 8h chart on 10/21/2010. I did traded to the downside but closed the short position after 100 pip profit (1.5989) yesturday. Since then, two hammers before a explosive upside candle today.Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations.
GBP/CAD SurprisetradeThe GBP/CAD Pair presented a bearish engulfing pattern on the 8h chart on 10/21/2010. Since then it had recoiled to the base of the breakage (200sma SurpriseBox, red line). This should bring the pair to, at least, near the base of the formation at the 1.59 area. Stop may be placed at the 1.6250 area.Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations.
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only make public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations.
