MisterTrader

#GBPAUD: Short the Price Heading down to Upward Trendline

Short
FX:GBPAUD   British Pound / Australian Dollar
97 views
3
The price Heading down to Upward Trendline, with momentum from the previous rejection zone with pinbar .
Upward trendline makes an attractive first goal for our SHORT.
We will closely observe how price behave on upward trendline level to decide if we stay or quite our SHORT position.

Bests,

=============================================
Trading rules are :
1. Trades are taken in 1, 2 or 3 units depending the situation.
2. If 90 percent of first target is reached I move stop loss to break-even.
3. If 90 percent of first target is reached without triggering entry I cancel the trade.
4. About targets : this is not an arbitrary approach, because every situation evolves different, targets will be adjusted according how price behave on key levels.
------------------------------------------------------------------------
My 5 tips to keep in mind that will save you from losing :
- Make sure to have enough Momentum on your side
- Use powerful confluences ( BRN , major S/R, Div , Trend-lines, Fibos)
- Have enough space to reach 2 Ratio:Reward at least, avoid tricky noise situations
- Good price action ( pinbar , inside bar etc..) at bottom/top for a good price
- Enjoy your wins and learn from your losses

Wish you great success !

Comments

Ive seen some of your chart posts on Technicians profile! Clean charts and simple analysis! *thumbs up* =)
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out