DislikedGBPCAD Here is my analysis of this pair. Please correct me. Big Boss: Started 4th month of consolidation {image} Boss: Price bouncing from 1.66 to 1.72 {image} Worker: Now reacting to resistance. I will be looking how today's candle will close to determine if there is a possibility to sell this pair. {image} Strat shadow holds further price dawnfall on 4H {image}Ignored
My worker have slightly different data feed, with the close I get, this is not the pair I want to sell, for now.
However, there is GBPUSD this time around.
BB
Price is in control by the hammer, running side way. 1.27 is an important price level as end of 2016 also constantly testing the same level for a couple months.
B
Is in up swing, it's in ranging range roof, rejected by Strat Shadow and SR confluences.
W
Price rejected by SR and went down with BEEB.
3 Tranches
SL - 1.31830 A couple pips above swing high and SR
Entry - 1.30420 A couple pips below BEEB
TP1 - 1.29500 (ATR5 roughly 81 pips), SL to BE
TP2 - 1.27021 Last swing low, also next SR
TP3 - Trailing swing low with SL, SL will move to a couple pips above reverse PASR when it happens, especially TP2 level