An opportunity for "Bottom Picker" - Long GBPCAD

12 Tem 2017

GBPCAD



GBPCAD has been accumulated since 13/06/2017 around the 1.7000 level. However, the sign of accummulation is very obvious. That's why there were many individual traders following the trades. That's why the smart money decided to push the price lower on 07/07/2017 in order to kick all the small investors out of their position.

The recent Pin Bar on H4 chart shows that the supply has been all absorbed by smart money. High volume increases the power of this signal. Then, I decided to enter this position with a medium risk to take the benefit from the activity of the Stop Hunter.

12 Tem 2017

İşlem kapandı: durdurma seviyesi

GBPCAD plummeted and reached 1.63500 - 1.64000 support area, due to the Positive News of CAD and costed me 0.25% of my account. Now this pair will likely pull back to the previous resistance area around 1.65000 due to the rising demand on British Pound.
Regarding to risk management, the chosen Stop Loss level is a good one because there's no false break after the Stop Loss being hit.