GBPCAD: Shorting Again on a Probable Pullback #forex
Shorting the pair once more..
The pair could be ready for a hefty pullback
- The price hit a confluence of monthly resistance and 161.8 extension level for the latest bearish wave
-RSI is showing bearish divergence
-A pin bar at that resistance area
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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
------------------------------------------------------------------------------------------------------------------------------------------------------------
Good luck, keep your stops tight..
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www.facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician
The pair could be ready for a hefty pullback
- The price hit a confluence of monthly resistance and 161.8 extension level for the latest bearish wave
-RSI is showing bearish divergence
-A pin bar at that resistance area
Be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
------------------------------------------------------------------------------------------------------------------------------------------------------------
Good luck, keep your stops tight..
twitter.com/thefxchannel
www.facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician
