Hello Traders,
We are seeing harmonic downswings on the GBPCAD and we have just entered a short trade on the recent pullback.
Resistances: 1.70991, 1.71472
Supports: 1.70045, 1.69321
I set a SELL LIMIT ORDER below the resistance 1.70991and set the SL above the next resistance 1.71472. TP is set at the support 1.69321. See the arrows for my graphical projection.
Entry: SELL LIMIT 1.70771
SL: 1.71604
TP: 1.69389/ 1.70045(partial profits)
Trade characteristics: Trend continuation with a limit entry on a retest of support
Expected trade duration: 1-3 days
Risk-to-Reward-Ratio: 1.66
Any Likes or Opinions in the comment section are appreciated. I also post regularly, so if you like my content, make sure to follow me. :)
We are seeing harmonic downswings on the GBPCAD and we have just entered a short trade on the recent pullback.
Resistances: 1.70991, 1.71472
Supports: 1.70045, 1.69321
I set a SELL LIMIT ORDER below the resistance 1.70991and set the SL above the next resistance 1.71472. TP is set at the support 1.69321. See the arrows for my graphical projection.
Entry: SELL LIMIT 1.70771
SL: 1.71604
TP: 1.69389/ 1.70045(partial profits)
Trade characteristics: Trend continuation with a limit entry on a retest of support
Expected trade duration: 1-3 days
Risk-to-Reward-Ratio: 1.66
Any Likes or Opinions in the comment section are appreciated. I also post regularly, so if you like my content, make sure to follow me. :)