MisterTrader
Long

GBPCAD : Long on Bottom rebound SMA200

FX:GBPCAD   British Pound / Canadian Dollar
54 3 0
TRADE RATE : C+
Opportunity at bottom supported by a clear support and SMA 200.
Objectives are not so ambitious regarding average momentum.
Warning : SMA200 on weekly chart can act as resistance early on our run.

ENTRY at 1.77517
STOPLOSS at 1.75218

Wish you great success !
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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
So far so good
Reply
who say 200SMA at bottom?
Reply
me :)
Reply
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