Successful Short Trade on GBPCAD: 150 Pips in 3 Days
Channel: Aliens to Binni
Date: 22/04/2024

This trade resulted in a 150 pip profit on GBPCAD over 3 days. 

Here's a breakdown of the key factors that led to this successful trade:

1. Price Rejection at Converted Support: The GBPCAD price had retraced to a former support level that had now turned into a strong resistance zone. This price action, coupled with multiple retests by the price, indicated strong selling pressure and a high likelihood of a reversal.

2. Wash and Rinse Entry for Precision: A lower timeframe entry strategy, like "wash and rinse," was used to pinpoint a precise entry point within the resistance zone. 

3. Partial Profit Taking and Risk Management:  Taking partial profits when the price broke below the previous swing low secured a portion of the gains and helped manage risk. This strategy allows traders to lock in profits while leaving some of the position open for potentially larger gains if the price continues to move in the desired direction.

Conclusion:

This trade demonstrates the effectiveness of combining technical analysis with a disciplined trading approach. The TAW dashboard alert system helped identify the opportunity, and the trade itself could be executed within a short timeframe. By capitalizing on price action at key levels, implementing a precise entry strategy, and practicing proper risk management, this trade resulted in a profitable outcome.

If you're interested in learning more about our trading strategies and how to identify similar opportunities, consider exploring our educational resources or subscribing to our trading signals.

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Where past performance is referred to, it is not indicative of future performance. Examples quoted in this presentation and videos are for illustration purposes only and does not represent any investment views or strategies. 

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