GBPCAD at 61.8

2019-11-05 06:22:45

GBPCAD is sitting at 61.8 Level from daily chart, weekly is downward trend.

Appears to be forming a double top. Would give further bearish momemtum.
The 61.8 AB=CD pattern is shown. With a good reward to risk factor (with small lot size)

I will only paper trade this as an exercise. However entry would be below tweezer tops. SL just above. TP down to Leg D. Appx 1:16 Risk reward if successful. This would be a long term trade. Set and forget.