GBPCAD - In Trend Engulfing Long Setup (4H)
GBPCAD has formed a significant bullish engulfing with a big wick on the 4H time frame.
Confluences:
Huge bullish engulfing candle with a big wick engulfing at least 4 previous candles.
Huge bullish engulfing pattern on the weekly time frame.
20EMA rejection.
Current uptrend.
1st entry: 50% Entry with 1:2 risk to reward.
Safe SL below engulfing low.
2nd entry: Entry after huge wick through 38.2%, 50% and rejecting 61.8%.
Risker SL below confirmation candle low which is also the 2nd higher low.
1:3 risk to reward.
30m time frame allows a perfect view of the 2nd higher low forming which is the ideal entry point for this strategy.
Confluences:
Huge bullish engulfing candle with a big wick engulfing at least 4 previous candles.
Huge bullish engulfing pattern on the weekly time frame.
20EMA rejection.
Current uptrend.
1st entry: 50% Entry with 1:2 risk to reward.
Safe SL below engulfing low.
2nd entry: Entry after huge wick through 38.2%, 50% and rejecting 61.8%.
Risker SL below confirmation candle low which is also the 2nd higher low.
1:3 risk to reward.
30m time frame allows a perfect view of the 2nd higher low forming which is the ideal entry point for this strategy.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.