I don't always enter at the 50 SMA
, but when I do, it's usually because the trend is clear, candlesticks
are suggesting a reversal, and the market has completed a 50% pullback. And that is precisely what we're seeing on GBPCAD
at the moment. 8200 should be a bearish
checkmate as well; if price closes above that level, I might close out early. Otherwise, I've got my stop at 8268 with my target profit at 7588.
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