WE HAVE STRONG RESISTANCE and DIVERGEN, SELL GBPCAD?
SWING TRADING JOURNAL
GBPCAD still in bearish trend, and I see strong resistance at 1.71400-1.71500
You can sell at market, SL above the Red Line and TP at Blue Box
Of course, the best plan is to wait for breakout on purple line and sell at pullback (Green Box). SL above the Red Line and TP at Blue Box
It's your call !
Manage this trade with your trading style, maybe you want to;
1. Close your position early (at 1R, 2R or any profit level)
2. Move your SL to break even
3. Scale out
4. Trailing stop
5. Re-entry if bearish structure still valid
6. etc
No Profit Guarantee, Good Luck!
GBPCAD still in bearish trend, and I see strong resistance at 1.71400-1.71500
You can sell at market, SL above the Red Line and TP at Blue Box
Of course, the best plan is to wait for breakout on purple line and sell at pullback (Green Box). SL above the Red Line and TP at Blue Box
It's your call !
Manage this trade with your trading style, maybe you want to;
1. Close your position early (at 1R, 2R or any profit level)
2. Move your SL to break even
3. Scale out
4. Trailing stop
5. Re-entry if bearish structure still valid
6. etc
No Profit Guarantee, Good Luck!