Continuation Level For Buy Position

12 oct. 2023

On the 4-hour time frame, GBP/CAD has displayed a bullish momentum, indicating a potential upward movement towards the supply zone above, possibly even reaching the top-level resistance. Should the price intersect with the most recent fresh demand zone below (indicated in blue), it could present an opportunity to initiate a buy position, provided the bullish trend persists. Setting the stop loss marginally below the demand zone is advisable. The initial or ultimate target for this position is the supply zone above, while for those with a longer-term outlook, the top-level resistance serves as the final target.

17 oct. 2023

Note

Roll stop loss to break even 1.6570

19 oct. 2023

Note

Close the position, the price moves up but in compression way,