MisterTrader
Short

GBPCAD : retrace before rallye to SMA200

FX:GBPCAD   British Pound/Canadian Dollar
47 4 0
Waiting retrace of 50% of last 2 candles for a better short entry at 1.82300.
We will use SMA200 has a relevant target.

STOP LOSS : 1,84030
ENTRY : 1.82300
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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.
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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 !
close to be activated ... 1 pip away, waiting for tomorrow price moves
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+ a trend line detected thanks to
GBPCAD-bollinger band duplication and other signals to short
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