Week 6 Trade 1 NU Short
Reasons for entry:
- 88.6% fib rejection on 4hr & daily timeframe
- Price broke below and retested 0.6905 (pink horizontal ray)
- Price finally made a lower low
Entry Timeframe:
- 1hr evening star as price rejected 0.6905
- (missed the original bearish engulfing entry on the 15min timeframe)
Stop Loss:
@0.6910 (-17pips)
Take Profit:
Target 1 : 0.6850 (+42pips) = Risk/Reward 1:2.5
Target 2 : 0.6750 (+142pips) = Risk/Reward 1:8.5
Target 3 : 0.6500 (+392pips) = Risk/Reward 1:23.4
Notes:
- will closely monitor the trade once price reaches 0.6870, if it fails to break below I will move my SL to break even/take partial profits or close the trade entirely.
- 88.6% fib rejection on 4hr & daily timeframe
- Price broke below and retested 0.6905 (pink horizontal ray)
- Price finally made a lower low
Entry Timeframe:
- 1hr evening star as price rejected 0.6905
- (missed the original bearish engulfing entry on the 15min timeframe)
Stop Loss:
@0.6910 (-17pips)
Take Profit:
Target 1 : 0.6850 (+42pips) = Risk/Reward 1:2.5
Target 2 : 0.6750 (+142pips) = Risk/Reward 1:8.5
Target 3 : 0.6500 (+392pips) = Risk/Reward 1:23.4
Notes:
- will closely monitor the trade once price reaches 0.6870, if it fails to break below I will move my SL to break even/take partial profits or close the trade entirely.
Note
Target 2 Hit +142pips great trade so far
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.