Long or Short: Short
Entry Point: Wait for close of 200-SMA, then immediately enter
Stop Loss: 100-pip trail
Profit Target/s: Former low at 1.2050ish.
Reward-to-risk Ratio: Depends on the entry/exit
Risk percentage: 2%
Indicators: 200 SMA, ADX (14)
Trade Rationale:
Mostly a technical long-term trade.
Price testing the 200-SMA
Support looks like it’s about to break
ADX rising, it’s now above 20, suggesting the downtrend is getting stronger
The 200 SMA is far more effective if you use it combined on 4hour and 1 hour charts, enter on the sma on the hour chart, and on the 4 hour…long term mostly you will take profit with 2 to 3 days and not be minus at anytime throughout the trade. its pointless to enter on the daily as the swing low will pass the 200 after a few days and you will miss your second trade set-up
