GBPUSD Trade on Oct 14, 2020 08:37 from BilalForex: Tradervue User Stock Trades.

Short setup presented itself on cable.
R:R = 2.79

Confluences:
- A downtrend on the H1 formed. We can also observe a double top from this. Trendline formed.
- MA Crossover (8 + 14)(H15).
- Price briefly crossed over 0.786 but fell below it shortly after. Hasn't got back above it.
- From the candlesticks on H1, we can see bullish power started to run out and the bulls started to come in.

Price:

You could set your own take profit, stop loss and entry levels however here are some suggested levels.

Entries:

Target entries:
- 1.30110 - 1.30587

TP : SL

Possible TP(s).
- TP 1: 1.29615
- TP 2: 1.29056
- TP 3: 1.28624
- TP 4: 1.28028

Possible SL(s).
- SL 1: 1.31046

Predictions:
- Price still has many key levels it needs to break (1.29600, 1.29000 and 1.28600).
- Price may rebound due to the 200 day ema on the H4, however this will not have an effect as price will go down again.
- If what is stated above does happen, we can redraw fibonacci to get new tp levels.

Notes:
- WAITING FOR 50 EMA TO CROSS BELOW 200 EMA FOR FURTHER CONFIRMATION.
- Price is on an uptrend (H24) overall and for price to reach the final tp's it would need to break a major trendline support. Taking TP:1 or TP:2 is recommended.