GBPCAD Stalling at 50 SMA

29 Eyl 2014

I don't always enter at the 50 SMA, but when I do, it's usually because the trend is clear, candlesticks are suggesting a reversal, and the market has completed a 50% pullback. And that is precisely what we're seeing on GBPCAD at the moment. 8200 should be a bearish checkmate as well; if price closes above that level, I might close out early. Otherwise, I've got my stop at 8268 with my target profit at 7588.

Technical Analysis Learning Community: informedtrades.com