Well even thinking about a GBPUSD long may make some people shiver and I wont blame them. We never know what the bottom will be. I made a bet few days ago by buying 1.2820. The trade was 130 pips in the money and the chart development told me that we should not break below 1.2840 if this is to be the low but I didn't moved my stop and got a full stop out on that trade. I didn't want to miss a big opportunity for a few pips and paid the price by full stop out rather than bagging the 130 pips or a 20 pip profit on a logical (PA based trailing stop).
Now again itching to "sacrifice" some profits. The idea is to buy 1.2120 and stop 1.198 and targets 1.2380, 1.2420 (yes a 120 pip stop and I am risking 0.5% on this trade and would recommend no more to anyone.
Now again itching to "sacrifice" some profits. The idea is to buy 1.2120 and stop 1.198 and targets 1.2380, 1.2420 (yes a 120 pip stop and I am risking 0.5% on this trade and would recommend no more to anyone.
Comment:
If our order is not triggered on market open (due to a gap down), plz move your entry down to 1.2080.
Order cancelled:
Target already reached and our initial entry missed by 15 pips