Setup:
It was noted that GBPCAD could be dropping to 1.70706
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.72502
SL: 1.73638
TP: 1.71916
Trade 2:
Entry: 1.72502
SL: 1.73638
TP: 1.70706
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:0.5
TP2 - 1:1.6
Total Risk:
2% or 226 PIPS
Total Reward:
2.1 % or 238 PIPS
** It should be noted that this trade don't consist of high reward. However, the setup is still valid.
Good Luck :-)
It was noted that GBPCAD could be dropping to 1.70706
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.72502
SL: 1.73638
TP: 1.71916
Trade 2:
Entry: 1.72502
SL: 1.73638
TP: 1.70706
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:0.5
TP2 - 1:1.6
Total Risk:
2% or 226 PIPS
Total Reward:
2.1 % or 238 PIPS
** It should be noted that this trade don't consist of high reward. However, the setup is still valid.
Good Luck :-)
Trade active
TP1 Hit: +0.5%Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.