GBPCAD just broke a beautiful trendline so we get an easy 150 PIPS before it might maybe reverse to keep going up! -- Simple trade Make sure to LIKE and FOLLOW for more analysis!
Just started following your charts. Question about this setup on the GBPCAD...what is your entry and risk management strategy? I see where you are entering but where is your stop and how do you manage the trade? Where do you get to break even if you do at all?
Thanks in advance.
GoldHunter
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I think SL should be at 1.72900 , TP up to 100 pips
GoldHunter
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R/R ratio not so good
jolicoeur342
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Not the best risk but still good chance to go there when you look at how long this trendline as been respected
jolicoeur342
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SL should be around 0.73000 TP 150 pips lower so its still above the 1 for 1 ratio. This is not a swing trade as i usally do, but i scalp!
jolicoeur342
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a scalp**
GoldHunter
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I agree , although the spread is too high , I went in this trade ; Cheers !
jolicoeur342
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Thanks!
marcusfx777
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is the trade being based on the trendline break alone?
jolicoeur342
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Take a look at how long this trendline as been respected! Good sign of a small retracement. I normally swing trade, but this short term setup can be interesting!
Just started following your charts. Question about this setup on the GBPCAD...what is your entry and risk management strategy? I see where you are entering but where is your stop and how do you manage the trade? Where do you get to break even if you do at all?
Thanks in advance.