GBPUSD LIVE TRADE Short

GBP/USDOANDA

Description

⋅ Jun 29, 2020 12:44 PM

GBPUSD H4- This pair is currently in a Downtrend with price below the 50EMA.

Reason For Entry- Market Pullback followed by Engulfing Candle.

SL- 70PIPS🛑
TP- 70PIPS✅
TP2- 140PIPS✅ (2:1R/R)

Comments

Simple_FX_

⋅ Jun 30, 2020 1:08 PM

Nice clean chart!

Quick question mate, how useful do you find using moving averages? would be interested to know.

Good Luck

Deensesay

⋅ Jul 1, 2020 11:18 AM

@Simple_FX_, I use the EMA indicator for one of my strategies. Its very useful as it shows you the momentum of the market & trends in the market. BUT it shouldn't be the only thing you refer to, I believe it should be used with other key confirmations that are apart of a trading plan.