GBPCAD - Divergence, Dropping towards 1.70706
Setup:
It was noted that GBPCAD could be dropping to 1.70706
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.72502
SL: 1.73638
TP: 1.71916
Trade 2:
Entry: 1.72502
SL: 1.73638
TP: 1.70706
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:0.5
TP2 - 1:1.6
Total Risk:
2% or 226 PIPS
Total Reward:
2.1 % or 238 PIPS
** It should be noted that this trade don't consist of high reward. However, the setup is still valid.
Good Luck :-)
It was noted that GBPCAD could be dropping to 1.70706
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 1.72502
SL: 1.73638
TP: 1.71916
Trade 2:
Entry: 1.72502
SL: 1.73638
TP: 1.70706
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:0.5
TP2 - 1:1.6
Total Risk:
2% or 226 PIPS
Total Reward:
2.1 % or 238 PIPS
** It should be noted that this trade don't consist of high reward. However, the setup is still valid.
Good Luck :-)
Trade attivo:
TP1 Hit: +0.5%
Trade chiuso: obiettivo raggiunto