GCAD Long Idea
Updated
Took a long on GCAD off of a 4H support zone after price showed signs of a slowing momentum at the 4H zone.
Confluences that influenced my long:
1) 4H support zone respected
2) OS on LTF charts
3) 1H bullish engulfing candle
Projected RR 1:2
Currently closed half the position at 1R with targets at previous level of structure/trendline support
Confluences that influenced my long:
1) 4H support zone respected
2) OS on LTF charts
3) 1H bullish engulfing candle
Projected RR 1:2
Currently closed half the position at 1R with targets at previous level of structure/trendline support
Trade closed: stop reached
Target on GCAD has been reached.Unfortunately, price stopped us at breakeven before making it's way to target.
We secured half the position at 1R before being stopped out at break even.
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