GBPUSD Major Support FIB 618 ( V shape Recovery )
Price Broke major Resistance 618 Fib on daily. which is now major Support potential continuation of the trend.
Risk Management Alert:
The meaning of second target (Always take 60% profit of your first target and keep your 40% running to second target, in this case if any reversal happens your safe and secured,
to make this better, move your stop loss to STOP PROFIT which is above your entry level of 10-15 pips after hitting the first target, up to you as long as it not negative, This way you don't regret holding or exiting early.
Thats 75% Profit from your idea or mine :D, Why this is good, Let's say you exited early, now you will be looking for another entry in this case you not sure if this is a reversal or a continuation of a trend and TRUST ME its not Easy to find.
Most of traders just throwing ideas without explaining why, how, and when... they just draw some beautiful butterfly's, sea-waves, waterslides, matrix moves, EVEN Some HOLY GRILL indicator, at the end all comes to risk management and key levels, Trust me markets will always do what they want to do.
Good luck.
Risk Management Alert:
The meaning of second target (Always take 60% profit of your first target and keep your 40% running to second target, in this case if any reversal happens your safe and secured,
to make this better, move your stop loss to STOP PROFIT which is above your entry level of 10-15 pips after hitting the first target, up to you as long as it not negative, This way you don't regret holding or exiting early.
Thats 75% Profit from your idea or mine :D, Why this is good, Let's say you exited early, now you will be looking for another entry in this case you not sure if this is a reversal or a continuation of a trend and TRUST ME its not Easy to find.
Most of traders just throwing ideas without explaining why, how, and when... they just draw some beautiful butterfly's, sea-waves, waterslides, matrix moves, EVEN Some HOLY GRILL indicator, at the end all comes to risk management and key levels, Trust me markets will always do what they want to do.
Good luck.
First Target: 1.26600
Second Target: 1.27800
Stop Loss: 1.25500