A bullish opportunity recently presented itself on the pound-dollar trading chart. This follows from the bullish harami candlestick pattern which printed just above the 1.14000 psychological level. A stop loss below the same psychological level and a profit target anywhere between your entry and the swing high of 1.22956 could give you a reward-to-risk ratio as high as 5 or even higher. Be sure to size your position based on your trading account balance and apply other risk management measures before placing trades.
Rooting for you!
Your FX Plug
GBPUSD
Rooting for you!
Your FX Plug
GBPUSD
Trade closed manually:
Even though I manually closed this trade without it reaching the target, I still made a good return on it. I closed the trade as a risk management measure since I have two current trades involving both the pound and the dollar. My setup, however, is still been maintained by price.
