GBPCAD 240 setup that I could not resist taking
Was not planning on taking any more new trades till new year. However when looking at the chart, this swing trade setup on the GBPCAD tick a few checks.
- Price has dropped below a strong Support/Resistance area as indicated by the yellow eclipse.
- Price broke trend line, retrace to the back of trend line and formed a pin bar. (a nice setup)
- Entered trade @ 1.8069 with tight stop of 10 pips above pin bar (@ 1.8118), target zone (AB=CD completion and 1.618 extension) @ 1.7925 This gives a Reward to Risk ration of almost 1:2.8
Let's wait and see
- Price has dropped below a strong Support/Resistance area as indicated by the yellow eclipse.
- Price broke trend line, retrace to the back of trend line and formed a pin bar. (a nice setup)
- Entered trade @ 1.8069 with tight stop of 10 pips above pin bar (@ 1.8118), target zone (AB=CD completion and 1.618 extension) @ 1.7925 This gives a Reward to Risk ration of almost 1:2.8
Let's wait and see
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.