Pair: GBPCAD D1 (5 candle - New York close)
Entry: counter-trend trading with pin bar
Exit: 1.6350 - 1.6400
Over the last two weeks, GBPCAD has bounced up after running into a key long-term support level at 1.6000.
We can see a daily bullish pin bar buy signal that formed at that key level yesterday. Even though this is not an ideal pin bar, I am looking to get long at 50% retracement of this pin bar's length. I see the potential for upside (counter-trend) movement into 1.6350 - 1.6400 area. As always, trade at your own risk.
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| 12.01.2017 - Trade: GBPCAD D1 - Trading With Price Action |
