Setup:
It was noted that GBPCAD could be dropping to 1.69
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.73634
SL: 1.75846
TP: 1.72161
Trade 2:
Entry: 1.73634
SL: 1.75846
TP: 1.69572
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2% or 436 PIPS
Total Reward:
2.5 % or 525 PIPS
Good Luck :-)
It was noted that GBPCAD could be dropping to 1.69
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.73634
SL: 1.75846
TP: 1.72161
Trade 2:
Entry: 1.73634
SL: 1.75846
TP: 1.69572
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2% or 436 PIPS
Total Reward:
2.5 % or 525 PIPS
Good Luck :-)
Trade closed: stop reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.