Trade 6: GBP/USD - 3.9 RR Ratio
Updated
Longer Time Frame: 1D
1. Bullish Engulfing candle in a day
Shorter Time Frame: 15min
1. Flag and pole formation almost for 3 phases
2. Price took resistance at "1"
3. Price crossed below the shorter and medium HMA
4. Retraced back to between 0.382 and 0
Bias: Short
1. Expecting a pullback
2. Price crossed below HMAs in 15m and 30m
Entry:
First EMA cross under when the Shorter HMA crossed under Medium HMA or First EMA cross under when the price crossed HMAs and is taking resistance of HMAs
Target:
1. Next Support between 1.29472 and 1.29360
2. The range falls between 0.382
3. Therefore, 0.382 is the target
SL:
Above the EMA cross under 5/15min timeframe
1. Bullish Engulfing candle in a day
Shorter Time Frame: 15min
1. Flag and pole formation almost for 3 phases
2. Price took resistance at "1"
3. Price crossed below the shorter and medium HMA
4. Retraced back to between 0.382 and 0
Bias: Short
1. Expecting a pullback
2. Price crossed below HMAs in 15m and 30m
Entry:
First EMA cross under when the Shorter HMA crossed under Medium HMA or First EMA cross under when the price crossed HMAs and is taking resistance of HMAs
Target:
1. Next Support between 1.29472 and 1.29360
2. The range falls between 0.382
3. Therefore, 0.382 is the target
SL:
Above the EMA cross under 5/15min timeframe
Trade closed: target reached
TP Hit
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