Long on GBPCAD
1. Rectangle Breakout has occurred with a retest of the triangle with a Higher Low.
2. Height of the rectangle is used to project future TP level (Expected Height of the Move).
3. An Up Trend is also in play with price making Higher Highs and Higher Lows while respecting the trend line.
4. TP = 1.58462
5. SL = 1.56026
6. RR ratio of 1:1.3 is in play.
1. Rectangle Breakout has occurred with a retest of the triangle with a Higher Low.
2. Height of the rectangle is used to project future TP level (Expected Height of the Move).
3. An Up Trend is also in play with price making Higher Highs and Higher Lows while respecting the trend line.
4. TP = 1.58462
5. SL = 1.56026
6. RR ratio of 1:1.3 is in play.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.