(GBP/CAD) Potential Sell Opportunity
Good Day Traders
Trade closed: target reached:
I hope everyone is having a phenomenal week so far.
Reasons for placing trade:
1) I noticed a significant wick rejection on the 4 hour time frame (which is clearly outlined) , indicating immense sell pressure.
2) The market has been on a clear downtrend , therefore i expected the trend to continue as there were no signs of a potential reversal.
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I will now leave you with a few words of wisdom:
Undoubtedly, the most important quality every trader must develop is patience. Predicting the direction is easy , the hard part is knowing how to execute the trade successfully. The number one reason traders lose is due to their lack of patience.
It's best to wait until you see multiple forms of confirmation in the market ; before opening a position.
Missing an opportunity is always better than losing one.
Good Luck With The Rest Of Your Trading Week
Eternal peace & love
Forex Prodigy.
Reasons for placing trade:
1) I noticed a significant wick rejection on the 4 hour time frame (which is clearly outlined) , indicating immense sell pressure.
2) The market has been on a clear downtrend , therefore i expected the trend to continue as there were no signs of a potential reversal.
-
I will now leave you with a few words of wisdom:
Undoubtedly, the most important quality every trader must develop is patience. Predicting the direction is easy , the hard part is knowing how to execute the trade successfully. The number one reason traders lose is due to their lack of patience.
It's best to wait until you see multiple forms of confirmation in the market ; before opening a position.
Missing an opportunity is always better than losing one.
Good Luck With The Rest Of Your Trading Week
Eternal peace & love
Forex Prodigy.