CADGBP POTENTIAL SHORT @~0.5360
I messed up the original post for this so I am trying again.
The Canadian Dollar has rebounded well against the British Pound leaving a bigger picture demand zone below @~0.5140.
Price is now coming to an area where there might be a sharp decline away. This supply zone @~0.5360 is also the 50% pullback area of the original down move indicated by the red arrow.
Price should fall away upon reaching that zone.
Entry Point: 0.5360
Stop Loss: 0.5400
Profit Target 1: 0.5140
Risk: 40 pips
Profit: 220 pips (5.5X Risk)
Entry can be fine-tuned on the H1 timeframe for lower pip risk and greater profit margin as follows:
Entry Point: 0.5365
Stop Loss: 0.5375
Profit Target 1: 0.5140
Risk: 10 pips
Profit: 225 pips (22.5X Risk)
Entry Point: 0.5382
Stop Loss: 0.5400
Profit Target 1: 0.5140
Risk: 18 pips
Profit: 242 pips (13.4X Risk)
The Canadian Dollar has rebounded well against the British Pound leaving a bigger picture demand zone below @~0.5140.
Price is now coming to an area where there might be a sharp decline away. This supply zone @~0.5360 is also the 50% pullback area of the original down move indicated by the red arrow.
Price should fall away upon reaching that zone.
Entry Point: 0.5360
Stop Loss: 0.5400
Profit Target 1: 0.5140
Risk: 40 pips
Profit: 220 pips (5.5X Risk)
Entry can be fine-tuned on the H1 timeframe for lower pip risk and greater profit margin as follows:
Entry Point: 0.5365
Stop Loss: 0.5375
Profit Target 1: 0.5140
Risk: 10 pips
Profit: 225 pips (22.5X Risk)
Entry Point: 0.5382
Stop Loss: 0.5400
Profit Target 1: 0.5140
Risk: 18 pips
Profit: 242 pips (13.4X Risk)
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.