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
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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
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S.L reached. Profit(pips)= -60. Stats After this trade: Net return = -0.4%
@Ansari, yes buddy this is the trend line am talking about
ernstschwarz
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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?
Technician
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@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%).
Do we expect to see a retest of a level and drop in price again? Thank you so much for the idea!
Swerver
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@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.
UnknownUnicorn478105
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@Swerver, Thank you so much for sharing your view! :)
Swerver
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@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
tradingview.com/chart/npOUcw2s/
thank technician