A rising/ascending channel on GBPCAD
My first analysis in 2019. Hoping everybody had a blessed Xmas and a very happy new year.
Holidays are over now and it's time to hit the charts harder than before. It's '20-grind-teen' afterall.
Anyhow, back to the subject at hand... Above we have a perfect ascending channel on the Cable. Despite the uncertainty clouding Great Britain due to the Brexit deal and what-not, the Pound seems to be rising above all odds.
I am personally anticipating a bullish movement towards the channel resistance, but of course we can expect a minor pullback before prices push up and test our resistance level, which is why I will have two entries. I will not ride the pullback, I will simply wait for the trend continuation.
If prices unfortunately decide to go against us (GOD forbid), we'll have our stop losses in place in order to protect our capital :-)
Signing out.
Holidays are over now and it's time to hit the charts harder than before. It's '20-grind-teen' afterall.
Anyhow, back to the subject at hand... Above we have a perfect ascending channel on the Cable. Despite the uncertainty clouding Great Britain due to the Brexit deal and what-not, the Pound seems to be rising above all odds.
I am personally anticipating a bullish movement towards the channel resistance, but of course we can expect a minor pullback before prices push up and test our resistance level, which is why I will have two entries. I will not ride the pullback, I will simply wait for the trend continuation.
If prices unfortunately decide to go against us (GOD forbid), we'll have our stop losses in place in order to protect our capital :-)
Signing out.
Trade geschlossen: Ziel wurde erreicht:
Take Profit triggered and the markets immediately moved sharply bearish.
Had we placed our T.P any higher, we would've missed out on that profit.
Had we placed our T.P any higher, we would've missed out on that profit.
Trade geschlossen: Ziel wurde erreicht:
Well, seems like our first and second targets have both been reached.
Personally, I missed out on the second entry because I anticipated the Pound to retrace and then continue upwards.
I'll place another since the week isn't over it. I'll be sure to keep you guys posted.
Personally, I missed out on the second entry because I anticipated the Pound to retrace and then continue upwards.
I'll place another since the week isn't over it. I'll be sure to keep you guys posted.