GBPCAD has formed a very strong demand zone at the 0.5 Fib level, using the pin bar as a basing candle on the 4hr chart. Now that price has broken the ascending trend line, expecting a reversal in this zone, or the demand zone at the 0.618 Fib level. Aiming to take profit at 1.75555, potential for 140 to 290 pips depending on entry. Will wait for candlestick confirmation at either zone before entering.
Completely new to trading! Let me know what you think.
Completely new to trading! Let me know what you think.