GBPUSD has just drop from 1.2600 to 1.2350 - 1.2275 level, expecting to consolidate at this level followed by a drop to 1.2025 - 1.2000 level.
This is a very profitable / destructive pair, it can lead to huge wins or blown accounts. Wait for exact point to enter trade, if position is opened prematurely it might lead to stop loss hit and missing trade opportunity. If no time for following chart set a sell stop below consolidation area @1.2250 and let the market do its thing (market always win). Do not adjust the trade until price has drop 30-40 pips then adjust stop loss to entry level and make it a risk free trade. DO NOT close the trade before time, it is a very strong pattern formation and will hit take profit @1.2000. TRUST your analysis. ONE trade at a time. RISK MANAGEMENT. LA.
This is a very profitable / destructive pair, it can lead to huge wins or blown accounts. Wait for exact point to enter trade, if position is opened prematurely it might lead to stop loss hit and missing trade opportunity. If no time for following chart set a sell stop below consolidation area @1.2250 and let the market do its thing (market always win). Do not adjust the trade until price has drop 30-40 pips then adjust stop loss to entry level and make it a risk free trade. DO NOT close the trade before time, it is a very strong pattern formation and will hit take profit @1.2000. TRUST your analysis. ONE trade at a time. RISK MANAGEMENT. LA.