EURCAD SHORT 02 (RE-ENTRY)

Trade Execution Plan (Sell Setup)

Trade Type: Sell (Short Position)
Sell Entry (Market Execution or Pending Order): 1.4860-1.4890 (High Confluence Zone).
Stop-Loss (SL): 1.4921 (Above Key Structure & Stop Hunt Zone).
Take Profit 1 (TP1): 1.4750 (H4 Key Support & 50% Fib).
Take Profit 2 (TP2): 1.4700 (Major Demand Zone).
Take Profit 3 (TP3): 1.4620 (Swing Target).

Risk-to-Reward Ratio (R:R): 1:3+ (Good Institutional Setup).
Bearish Confidence Level: 🔥 85% (If Price Holds Below 1.4890).

Trade active

Trade has triggered for sell, can be taken next week also, as price can still spike upside grab more liquidity and hunt sl before going down, safest sl is 1.4920-4930 zone. If you are conservative wait for price action confirmation. My first eurcad sell plan failed, as price made deeper pullbacks but it has room to fall down to 1.4700-4600 levels. Will take time to reach tp levels.

Note

UPDATE: Price is testing 1.4900 zone, most likely should reject from here but there is a high chance of price spkies and stop hunts above it, so i'm raising my sl at 1.4955 (it's an optional move).

Note

UPDATE: Price did test the stop hunting zone, and it made a strong bearish Engulfing candle for confirmation, if anyone did update their SL like me then their SL was saved and didnot hit, continue to hold the trade.

Trade closed: stop reached

Unfortunately Lost this trade as well, US president inauguration and speech created a lot of volatility and affected oil prices and indirectly this trade plan and it went against and hit SL. That is why however good a trade looks stick to strict Money Management, or one can blow their accounts in no time.

jibkhan111

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