"Explosive EURCAD Trade Alert: Ready to SHORT on Break Down
Currency Pair: EURCAD
Trade Call Type: #SHORT (Short Trade)
Order Type: Sell Stop
Entry Rule: Short on Breakout
Entry Details:
Entry Order Type: SELL STOP
Entry Price: 1.48292
Take Profit Price: 1.47783
Stop Loss Price: 1.48792
Risk-Reward Ratio (RRR): 1:1
(Risk-Reward Ratio is calculated as the ratio of potential profit to potential loss)
Risk per Trade: 1.25%
(Risk per Trade is the percentage of the trading account that is at risk for this particular trade)
Technical Analysis:
As per the trade call, we are looking to enter a short position on a breakout below the support level.
The sell stop order is set at 1.48292, just below the current resistance level. This means that if the price breaks below this level, the sell order will be triggered, initiating the short trade.
Take Profit and Stop Loss levels are set at 1.47783 and 1.48792, respectively. The Take Profit level represents the lower boundary of the range, which might act as a potential support level, where the price could bounce back. The Stop Loss level is placed above the resistance level to limit potential losses in case the price turns bullish and moves against the trade.
Risk-Reward Ratio (RRR) of 1:1 indicates that the potential profit from this trade is equal to the potential loss. It means that for every percentage point of the trading account risked on this trade (1.25%), the potential gain is also 1.25%.
Please note that trading in the foreign exchange market involves significant risk, and past performance does not guarantee future results. It is essential to follow a well-defined trading strategy, manage risk carefully, and be prepared to adjust your approach based on changing market conditions. Always use appropriate position sizing and risk management techniques to protect your trading capital. Consider consulting with a financial advisor or a professional trader before making any trading decisions.
Trade Call Type: #SHORT (Short Trade)
Order Type: Sell Stop
Entry Rule: Short on Breakout
Entry Details:
Entry Order Type: SELL STOP
Entry Price: 1.48292
Take Profit Price: 1.47783
Stop Loss Price: 1.48792
Risk-Reward Ratio (RRR): 1:1
(Risk-Reward Ratio is calculated as the ratio of potential profit to potential loss)
Risk per Trade: 1.25%
(Risk per Trade is the percentage of the trading account that is at risk for this particular trade)
Technical Analysis:
As per the trade call, we are looking to enter a short position on a breakout below the support level.
The sell stop order is set at 1.48292, just below the current resistance level. This means that if the price breaks below this level, the sell order will be triggered, initiating the short trade.
Take Profit and Stop Loss levels are set at 1.47783 and 1.48792, respectively. The Take Profit level represents the lower boundary of the range, which might act as a potential support level, where the price could bounce back. The Stop Loss level is placed above the resistance level to limit potential losses in case the price turns bullish and moves against the trade.
Risk-Reward Ratio (RRR) of 1:1 indicates that the potential profit from this trade is equal to the potential loss. It means that for every percentage point of the trading account risked on this trade (1.25%), the potential gain is also 1.25%.
Please note that trading in the foreign exchange market involves significant risk, and past performance does not guarantee future results. It is essential to follow a well-defined trading strategy, manage risk carefully, and be prepared to adjust your approach based on changing market conditions. Always use appropriate position sizing and risk management techniques to protect your trading capital. Consider consulting with a financial advisor or a professional trader before making any trading decisions.