EURGBP SELL AT SMA 200 DYNAMIC RESISTANCE & SUPPLY ZONE CONFLUCE
We have a valid short setup on EURGBP 240MINS chart with a potential 2:1 Reward to Risk ratio..........
1. We have a verified supply zone that price has tested twice and it held.
2. We have SMA 200 a dynamic resistance in this case also in this zone to form a strong confluence.
3. Price has tested this confluence zone and reversed without a successful bullish breakout and it has reversed to form an inside bar which we already have a breakout of that inside bar pattern......
OUR ENTRY IS A SELL STOP AT THE LOW OF THE INSIDE BAR BREAKOUT CANDLE.
STOPLOSS IS ABOVE THE HIGH OF THE MOTHER BAR
TARGET IS 2:1 RRR
TRADE MANAGEMENT :- We will reduce our risk on the trade by half once price move 1 times our risk in our favour and we will move remaining stop to breakeven once price move 1.5 times our risk and we await for the final target.......
GOODLUCK........
1. We have a verified supply zone that price has tested twice and it held.
2. We have SMA 200 a dynamic resistance in this case also in this zone to form a strong confluence.
3. Price has tested this confluence zone and reversed without a successful bullish breakout and it has reversed to form an inside bar which we already have a breakout of that inside bar pattern......
OUR ENTRY IS A SELL STOP AT THE LOW OF THE INSIDE BAR BREAKOUT CANDLE.
STOPLOSS IS ABOVE THE HIGH OF THE MOTHER BAR
TARGET IS 2:1 RRR
TRADE MANAGEMENT :- We will reduce our risk on the trade by half once price move 1 times our risk in our favour and we will move remaining stop to breakeven once price move 1.5 times our risk and we await for the final target.......
GOODLUCK........
Order cancelled:
This pending sell trade is now invalid and cancelled because price moved above our inside bar price action pattern and price might be breaking the zone to the upside.......
