GBPCAD |Short D1 | Market Exec |
Updated
Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on D1 and H1 time-frame. H4 is also entering Overbought Conditions.
- Price action is close to last month's Resistance Trendline
- Price action is well into a Supply Zone area
- Targeting between the 50.0% - 61.8% Fibo retracement
Suggested Trade:
Entry @ Area of Interest 1.7180 - 1.7270
SL @ 0.1.7348
TP 1 @ 1.7002 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 1.6811
Risk-to-Reward @ Approx. 2.93 (Depending on Entry Level)
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Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.
Any websites / brokers / applications suggested here are also provided as informational purpose only.
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- Stochastics are in Overbought Conditions on D1 and H1 time-frame. H4 is also entering Overbought Conditions.
- Price action is close to last month's Resistance Trendline
- Price action is well into a Supply Zone area
- Targeting between the 50.0% - 61.8% Fibo retracement
Suggested Trade:
Entry @ Area of Interest 1.7180 - 1.7270
SL @ 0.1.7348
TP 1 @ 1.7002 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 1.6811
Risk-to-Reward @ Approx. 2.93 (Depending on Entry Level)
________________________________
Boosts 🚀, Follows ✌️, Shares 🙌 & Comments ✍️ are much appreciated!
If you have any ideas or charts, do share them in the 'Comments' section below and we can discuss our perspectives to improve or strengthen our strategies.
If you want something analyzed, do drop me a DM. :D
________________________________
Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.
Any websites / brokers / applications suggested here are also provided as informational purpose only.
________________________________
Note
Going to enter a 2nd entry at this level.It is close to a 78% Fibo extension level too.
Note
Revising SL level to 1.7509.Trade closed: stop reached
Protecting capital for another day.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
Disclaimer
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