Technician
Short

Trade 3: Short EURGBP at confluence of resistance

FX:EURGBP   Euro / Britisches Pfund
7445 views
160
7445 45
Looking to short the EURGBP slightly higher as the price hits multiple resistance levels.
1- The ceiling of the short term rising channel
2- The 200-days simple moving average
3-Bearish engulfing candle on four-hour
4- A falling trend line on the daily chart
5- RSI is overbought

Best
Technician
Kommentar: Some notes:
All my trades will have Risk of capital per trade of 2%

Stats before this trade:
GBJPY Trade = +3.6%
AUDUSD Trade= -2%
Net return = +1.6%
Trade geschlossen: Ziel wurde erreicht: S.L reached.
Profit(pips)= -60.
Stats After this trade:
Net return = -0.4%
it is not easy to understand for a newbie to put profit or loss into "pips".

if you lose 100pips with a risk to reward of 1:4 it may be good. what matters here anyway and nevertheless is how much of your account you lost in that negative trade.
and improtant the otehr way around is how much % you gained on a good trade. and after all of that it matters how often you lose and how often you win.

the "net return = -0.4%" is the loss this trade produced in your account?

maybe you wanna use this fxbook thing?
Antworten
Technician ernstschwarz
@ernstschwarz, as i mentioned, i risk 2% only on each trade. so this trade is 2% loss on account. So, before this trade my cumulative profit was 1.6%, and after this trade its -0.4(1.6%-2%).
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ernstschwarz Technician
@Technician, yapp.
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Do we expect to see a retest of a level and drop in price again? Thank you so much for the idea!
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Swerver spezimuc
@spezimuc, @spezimuc, Expect price a little higher yet, area selling of confluence zone only 15-30 pips away.
Bearish TL support harmonic zone support and RSI divergence fully showing , its all adding up for a fall.
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spezimuc Swerver
@Swerver, Thank you so much for sharing your view! :)
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Swerver spezimuc
@spezimuc, No worries, If we do hit the Full BAT it completes at R2 Monthly pivot and Trendline support, there is strong resistance @ 0.87200, an SL above this would be required
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@Swerver, Thanks for your view :)
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Swerver Technician
@Technician,no problem, I always pop in and check your awesome work.
A well deserved Top performer :)
Thank you for consistently sharing your hard work
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@Swerver, Many thanks. And most welcome.
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