Trade is currently invalidated as there is a gap during the opening of the market and open price is currently below the SL of the initial trade that we are looking into.
Showing posts with label Potential Trade. Show all posts
Showing posts with label Potential Trade. Show all posts
Monday, March 9, 2020
Sunday, March 8, 2020
Potential Trade: March 3, 2020
Pair : GBPJPY
Time Frame : H4
Open Price : 137.800
SL : 136.300
TP : 138.80, 139.40, 140.70
Note: Looking for a possible reversal / correction on the Guppy at the H4 timefram. Stochastic is showing the pair as getting out of the oversold area and starting to go up. MACD is showing a possible bullish divergence. I am looking at the break of the SMA (30) for a confirmation before entering. I set a buy stop at 137.80 as it is both above the SMA(30) and it breaks the recent bullish candle high. I placed the SL at 136.300 (below recent low ) and am looking at partial TPs at 138.80 and 139.40 which are recent rejection areas. And final TP at 140.70 which is around 50% fib of the recent swing.
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