Short trade based on timeframe agreement:
* A strong resistance zone evident on the daily on H4, giving a good reference point for stop loss
* Price overbought on the daily based on linear regression channel
* Slightly worried about the price action on the 4hourly chart as it hasn't yet broken structure to show signs of a downtrend
* However, signs of bearishness on lower timeframes (1h, 15min), with lower highs and lower lows
* Stoploss above resistance area (last Thursday's candle on the daily)
* Take profit based on a 1:1 reward to risk
* A strong resistance zone evident on the daily on H4, giving a good reference point for stop loss
* Price overbought on the daily based on linear regression channel
* Slightly worried about the price action on the 4hourly chart as it hasn't yet broken structure to show signs of a downtrend
* However, signs of bearishness on lower timeframes (1h, 15min), with lower highs and lower lows
* Stoploss above resistance area (last Thursday's candle on the daily)
* Take profit based on a 1:1 reward to risk
Nota
Price action on lower timeframes has started to create a lower high at around 0.6900. Moved down stoploss to just above that level to protect profits. This protective stop now allows for a risk-free trade, with worst case scenario profit of around £40 (unless something dramatic happens in the market causing the price to gap above that stop).
Price action is still good enough to maintain original 1:1 take profit level at 0.6873. This would result in around £100 profit.
So this is trade is set to profit either £40 or £100.
Dagangan ditutup secara manual
Closed out +£40 profit based on the price moving passed a lower high on the lower timeframes
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.