• Sell entry price: 1.23054
• Stop loss price: 1.23388
• Target price: 1.18122
If you entered this trade and the market price of GBP/USD went down to your target price of 1.18122, you would make a profit of 0.04932 GBP per USD sold.
However, if the market price of GBP/USD goes up and hits your stop loss price of 1.23388, you would exit the trade with a loss of 0.00334 GBP per USD sold.
As you mentioned, the GBP/USD pair is currently in a downtrend on the higher timeframe of 4 hours. This suggests that the broader market trend is in favor of a short trade, but it's important to continue to monitor price movement and manage the trade accordingly.
It's also important to note that the Bank of England (BOE) is scheduled to raise interest rates today, which could impact the volatility and direction of the GBP/USD pair. As with any trading decision, it's important to stay informed about market events and to implement proper risk management strategies.
Disclaimer: This information is for educational purposes only and should not be taken as financial advice. Trading forex involves significant risk of loss and may not be suitable for all investors. Before making any investment decisions, it is important to do your own research and consult with a licensed financial professional.
• Stop loss price: 1.23388
• Target price: 1.18122
If you entered this trade and the market price of GBP/USD went down to your target price of 1.18122, you would make a profit of 0.04932 GBP per USD sold.
However, if the market price of GBP/USD goes up and hits your stop loss price of 1.23388, you would exit the trade with a loss of 0.00334 GBP per USD sold.
As you mentioned, the GBP/USD pair is currently in a downtrend on the higher timeframe of 4 hours. This suggests that the broader market trend is in favor of a short trade, but it's important to continue to monitor price movement and manage the trade accordingly.
It's also important to note that the Bank of England (BOE) is scheduled to raise interest rates today, which could impact the volatility and direction of the GBP/USD pair. As with any trading decision, it's important to stay informed about market events and to implement proper risk management strategies.
Disclaimer: This information is for educational purposes only and should not be taken as financial advice. Trading forex involves significant risk of loss and may not be suitable for all investors. Before making any investment decisions, it is important to do your own research and consult with a licensed financial professional.
Comment:
Comment:
Comment:
reduced stop loss
Trade closed: stop reached
Lord MEDZ