meszaros

Waiting for GBPUSD long entry at 1.16878.

Long
OANDA:GBPUSD   British Pound / U.S. Dollar
Waiting for GBPUSD long entry at 1.16878. I use the following set of rules. The white box in the analysis shows the H4ATR range. This is the range that GBPUSD "moves" within 4 hours at current ATR values. There is also a narrower red square. These squares are the "spike areas" to which the exchange rate can go. Therefore, I assume that the exchange starts north of this H4ATR area. Therefore, I move the H4ATR from 50% (1.16878) to the long position. The figure shows the STOP LOSS (1,13590) The starting RR: 1.65 so I start the SL just below the last correction after the start so I increase the RR to 2.