GBP/USD - SETTING UP FOR A STRONG IMPULSE UP?
The pair is currently forming a classic ABC correction and could potentially take off from the 0.618 or 0.786 which happens to confluence nicely with yesterday's POC.
E: 1.3514
SL: 1.3483
TP: 1.3593
RR: 2.54
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
E: 1.3514
SL: 1.3483
TP: 1.3593
RR: 2.54
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Comment:
there's nothing stopping it
Comment:
stops moved to above B/E level
Comment:
trying to setup for another move
this is the 2M chart so heads up and monitor the trade closely
this is the 2M chart so heads up and monitor the trade closely
Comment:
waiting for a crossover before buying again
Comment:
Comment:
has to hold before any further longs
Trade closed manually:
decided to close out a little before hitting the predetermined target
Comment:
Original target has been hit but already out of the trade. See you on the next trade everyone. Trade safe
Potential continuation zone