GBPUSD - Mid To Long-Term Bullish Reversal Happening Soon?
Hi Traders. Throughout these past 1 week I've been talking about buying opportunity on GBPUSD if price finds strength breaking above 1.23.
But I did highlight the second-type scenario, which is to buy at another key support level around 1.2180 - 1.2190, which price actually had some minor rejection during the early Asian session just now.
As price still defends above the 1.2180, I will continue to stick to my initial plan because it is all about Risk-to-Reward potential.
One important thing that all of you MUST understand is Risk Control and Risk-to-Reward.
If you have a confident setup that you think it could be a mid to long-term Reversal setup, talking about 500 pips - 1500 pips movement, that as long as you are managing your risk and keeping them small. Ultimately if you are correct after several attempts, it will compensate all the trial trades that you took earlier.
No one can ever time an entry perfectly every single time, but as long as you have a rigid plan and Risk Control, you will always stand out as a profitable trader over the long-term.
GBPUSD is one of the good examples, market has been in a downtrend since May 2021 (1 year 1 month), its just a matter of time price will bounce. Is it going to be today or tomorrow? It is never 100% predictable.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
But I did highlight the second-type scenario, which is to buy at another key support level around 1.2180 - 1.2190, which price actually had some minor rejection during the early Asian session just now.
As price still defends above the 1.2180, I will continue to stick to my initial plan because it is all about Risk-to-Reward potential.
One important thing that all of you MUST understand is Risk Control and Risk-to-Reward.
If you have a confident setup that you think it could be a mid to long-term Reversal setup, talking about 500 pips - 1500 pips movement, that as long as you are managing your risk and keeping them small. Ultimately if you are correct after several attempts, it will compensate all the trial trades that you took earlier.
No one can ever time an entry perfectly every single time, but as long as you have a rigid plan and Risk Control, you will always stand out as a profitable trader over the long-term.
GBPUSD is one of the good examples, market has been in a downtrend since May 2021 (1 year 1 month), its just a matter of time price will bounce. Is it going to be today or tomorrow? It is never 100% predictable.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
