GBPCAD: Shorting Again on a Probable Pullback #forex

25 ก.พ. 2015

Shorting the pair once more..
The pair could be ready for a hefty pullback
- The price hit a confluence of monthly resistance and 161.8 extension level for the latest bearish wave
-RSI is showing bearish divergence
-A pin bar at that resistance area

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
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