EUR:CAD Daily. Gartley sell trade update

Hi,

I posted a sell set up for EUR:CAD on 19 October and followed up with posts on trading strategy.

Under this strategy, the set up was triggered into on 26 October at 1.4186 and the short position would still be open.

There is now a chance to move the stop down. I’ve outlined the logic of this to assist readers

After the corrective upswing in December, we have now moved under the most recent low established on 2nd December.

The stop has now been moved downt to 1.3482 which is just behind the resistance zone around the 2 Dec low. This is because,  a move back up through this resistance would represent overlapping behaviour, a sign of weakness in the downtrend.  

 You can follow us on Twitter at RicCharts and DaveCharts

Cheers

Ric

About Ric Spooner

Over 30 years market experience - professional trader, broker, director
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