Price has tested the orange trendline before reversing quickly.
With the higher time frames - weekly and daily being bearish, sellers are still in control.
On the lower timeframe on the M5 there was a double top pattern a couple hours ago which I entered on. However it is still not too late to enter on this trade for a nice short.
Risk to reward of 2.5. Not every single trade has to be a winner to make money.
I had a loss yesterday on GBPUSD, so if this trade doesn't work out I'm done for the week. MAX 2 losses per week.
Let's get these pips!
TARGET IS THE BLUE LINE. But I'll keep you guys posted depending on what happens.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: instagram.com/jaylen.forex/
Website: forexshinobi.com
ForexShinobi
With the higher time frames - weekly and daily being bearish, sellers are still in control.
On the lower timeframe on the M5 there was a double top pattern a couple hours ago which I entered on. However it is still not too late to enter on this trade for a nice short.
Risk to reward of 2.5. Not every single trade has to be a winner to make money.
I had a loss yesterday on GBPUSD, so if this trade doesn't work out I'm done for the week. MAX 2 losses per week.
Let's get these pips!
TARGET IS THE BLUE LINE. But I'll keep you guys posted depending on what happens.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: instagram.com/jaylen.forex/
Website: forexshinobi.com
ForexShinobi
Note
Price is starting to go down. First take profit at 1.3075 reached. Next target is 1.2975!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.