SmartTradingFX
Short

A short opportunity with a potential 3:1 risk reward

FX:GBPUSD   British Pound/U.S. Dollar
1552 29 24
Analysis on chart!

Coming up to retest structure for the fourth time, ABCD Pattern completion, Two fib extensions, Overbought on both 1H and 4H Time frames...

Potential risk reward of 3:1 back down to dynamic support...

Any likes, shares and or constructive feedback is welcome!
nice analysis...
+2 Reply
SmartTradingFX korhancakir
Thank you sir! Any trades on your radar today!?
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korhancakir SmartTradingFX
yes i took this one > eurjpy - short
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korhancakir korhancakir
https://www.tradingview.com/chart/LfPsnwnF/
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korhancakir korhancakir
snapshot
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SmartTradingFX korhancakir
I dont trade patterns so i cant comment on the chart above! Akil is the man for patterns!
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SmartTradingFX korhancakir
I had my eye on that pair but i dont believe it came into the zone i needed it too so no trade for me! Good luck!
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Nice one
+2 Reply
SmartTradingFX Akil_Stokes
Thank you Akil, your support means alot!
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Thnx akil sir
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Yep I agree. Waiting for a bit higher:
GBPUSD Bearish Bat
+1 Reply
Good work! Me too, the higher we can get into the zone the less i have to risk which is always a nice thing! Good luck!
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Marvin SmartTradingFX
You too mate. You're now being stalked :)
+1 Reply
what will be the target on the this gartley pattern
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Marvin sumathidenward
If you mean my pattern it's a bat. The answer is subjective. You can target the B point or the 38.2 or 61.8 fibs. Or a 2:1 risk/reward. It's up to you.
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RIP... market breakout sir...
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prashantfx agungmahendra
yeah stoploss triggred
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Marvin agungmahendra
Or is it? Not yet anyway.
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Currently short, Entry was low of bearish engulfing candle.
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Marvin SmartTradingFX
on the H1? Good one. I was very lucky. Missed my stop by 2 pips!!
+1 Reply
Yes majority of my trade enrties i take on the 1H... So your still in then?
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Marvin SmartTradingFX
No I'm out at the 61.8 retrace of my CD leg
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What price did you enter?
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Marvin SmartTradingFX
1.5660
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Thats higher than where your pattern completes tho, right?
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Marvin SmartTradingFX
Yeah it is for the X-D extension but the PRZ (price reversal zone) also incorporates 1.618-2.618 B-C extension so it's a zone rather than a specific point, at least that's how I trade it. On this one the price action was strong so I waited with my entry
+1 Reply
Marvin Marvin
Sorry not X-D, I meant X-A extension.
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Nice analysis mate! In daily time frame also we have pin bar at the zone!

Short GBPUSD. Pin bar at resistance!


Good luck!!
+1 Reply
SmartTradingFX AlexD_Trading
Thank you! We do have a pin bar good spot!
Reply
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