Week 7 Trade 2 UJ Short
Reasons for entry:
- Price has reached and rejected the 61.8% fib on the daily
- Price has reached and rejected the 88.6% fib on the 4hr timeframe
- Price is loosing momentum
- Eveningstar candlestick formation on the 1hr timeframe
Entry Timeframe:
- 1hr Eveningstar formation
- @110.55
Stop Loss:
@1.1266 (-12pips)
Take Profit:
- Target 1 @108.50 (+204pips) = Risk/Reward : 1:16.2
- Target 2 @105.00 (+554pips) = Risk/Reward : 1:44
- Target 3 @102.00 (+854pips) = Risk/Reward : 1:67.8
Notes:
- Tight SL, will look to add a second entry should price break and close beneath the trendline
- If price fails to break below the trendline I will either close the trade in slight profit or move my SL to BE (Break-Even)
- Price has reached and rejected the 61.8% fib on the daily
- Price has reached and rejected the 88.6% fib on the 4hr timeframe
- Price is loosing momentum
- Eveningstar candlestick formation on the 1hr timeframe
Entry Timeframe:
- 1hr Eveningstar formation
- @110.55
Stop Loss:
@1.1266 (-12pips)
Take Profit:
- Target 1 @108.50 (+204pips) = Risk/Reward : 1:16.2
- Target 2 @105.00 (+554pips) = Risk/Reward : 1:44
- Target 3 @102.00 (+854pips) = Risk/Reward : 1:67.8
Notes:
- Tight SL, will look to add a second entry should price break and close beneath the trendline
- If price fails to break below the trendline I will either close the trade in slight profit or move my SL to BE (Break-Even)
Trade closed: stop reached
SL Hit -12pips, looking for another entry to enter ShortNote
Price is struggling to break through 111.00, could possible see another short opportunity soon.
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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.