GBPCAD Broke the flag
Hey guys just wanted to give you a quick update on GBPCAD on the 4hr time frame.
The last 4hr candle that printed broke through our bull flag, and this current candle has not returned back into the bull flag, which is a great sign of a confirmed breakout. I am currently holding my long position which I entered into on the printing of the second candle that closed outside of the bull flag.
The EMA (in blue) and MA (in red) crossed (as I said they would in my last update) if the MACD found support on the red dotted line (which it did) and now the MACD has also crossed over signaling upwards momentum. At this point we will be hitting my initial target of 1.8375 and if we can break through that level of minor resistance and confirm as new support we will be on our way to 1.85!
**This is not a recommendation to buy or sell and is for educational and informational purposes only**
The last 4hr candle that printed broke through our bull flag, and this current candle has not returned back into the bull flag, which is a great sign of a confirmed breakout. I am currently holding my long position which I entered into on the printing of the second candle that closed outside of the bull flag.
The EMA (in blue) and MA (in red) crossed (as I said they would in my last update) if the MACD found support on the red dotted line (which it did) and now the MACD has also crossed over signaling upwards momentum. At this point we will be hitting my initial target of 1.8375 and if we can break through that level of minor resistance and confirm as new support we will be on our way to 1.85!
**This is not a recommendation to buy or sell and is for educational and informational purposes only**
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