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Trade_Simple_FX
Aug 24, 2020 8:45 AM

GBPUSD H4 - Long Trade Setup Long

FX:GBPUSD240
British Pound/U.S. DollarFXCM

Description

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GBPUSD H4 - Lots of consolidation being seen on support, on the fence with the GBP at the moment (as explained in the weekly watchlist), however, decent RR, we know the USD isn't performing particularly well at the moment too. One to keep an eye on.
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Comments
mounesmax
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after big bearish candle ,expect more to the down side
Trade_Simple_FX
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@mounesmax, you're right, pushed downside, but now looking nice at just shy of 1:2
AlkalineFX
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Fantastic entry well done mate!
Trade_Simple_FX
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@AlkalineFX, Thanks mate, took partials and had to re-enter
AlkalineFX
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@Trade_Simple_FX, What every good trader does! Especially in times like these
SedReza
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It's not true
Trade_Simple_FX
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@GazelleFX, seemed to work out okay, made some good money quickly and grabbed a re-entry with original order details
SedReza
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@Trade_Simple_FX, Yes. Of course, it depends on each person's strategy.
kwakughartey
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gbp has been weak as well ... ..
price has broken the key diagonal support der ..
Trade_Simple_FX
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@kwakughartey, Hasn't maintained lows, made money on the initial bounce, took partials and stopped in profit, still holding a re-entry position too.
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