ridethepig | GBPCAD Market Commentary 2020.07.24

⚡️ GBPCAD Fast Flows

Here we are trading the breakdown in GBPCAD, with the possible intention of adding on momentum. The question is whether Seller's position is strong enough to put up with such a hammer? Possible similar moves to the previous crash which we traded live:

By losing yesterday's lows in GBPCAD, buyers defeat will be seen and the combination of a minimum ABC sequence follows. Tracking 1.708x => 1.689x as the combination blow.

But we can of course take it leisurely, assuming the breakdown occurs the flows will be so strong that we need have no anxiety of continuing to add size on. This is because we are able to avoid with a cheeky grin all of our unaware opponents, no matter the reply.

Strong and decisive... but so clean and simple. One of my favourite moves.

Thanks as usual for keeping the feedback coming 👍 or 👎

Komen:

The 1.708x entry is getting further and further away... if we do not get a fill here today we can re-open the idea with fresh levels.

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