The GBP/CAD Pair presented a break from the SurpriseBox to the upside on the 8h chart. The SurpriseBox was formed on the 8h chart around the 200sma (red line). The 50sma (blue line), representing the top of the box, was broken with a green bullish candle. About a 50:50 trade will be to go long about 08:00h est today if price still around this level. Target will be the 1.6350 area, a reasonable stop will be the 1.6125 area corresponding to the bottom of the box. I already placed a small trade. Plan to add at 08:00h. Today is fed day in US so, this evening may present increased volatility.
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.
