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.
Thanks for posting this M- We have similar targets to aim for with different approach which is great. Time trend puts move to Wedensday from low to high of crash move, its a guide, sometimes its accurate sometimes not. Tuesday - Wednesday I'm paying attention to this pair.
meszaros
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@M-G, Thanks for the comment. When markets work normally, I use earlier entry signals. But now, in this difficult market situation, I am entering a second reinforcement. Positioning on the second input signal is harder to achieve at 2RR. But now I'm more focused on safety.