Tuesday, October 30, 2012

GBPCAD Short Trade Setup

myfxvoyage.blogspot.com GBPCAD Short Trade
GBPCAD H4
I am watching this setup from past few sessions and have traded it previously for 20pips. Details [here].

Now the price is hitting the resistance area again and short trade setup is materializing. After touching resistance area, price is getting rejected and going south. On H4 and lower timeframe, double top setup is building. 



I am expecting this horizontal resistance area to hold and am going short at current market price at 1.6061 with a stoploss on break & close above the resistance area.






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