fxstudent299
Long

Long GBPUSD – Trading with the Trend

FX:GBPUSD   British Pound/U.S. Dollar
Trading idea on 4h chart:
Long GBPUSD             – Trading with the Trend
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Trading idea: limit buy order at 1.5345, Risk-Reward = 4.0
SL@ 1.5310 (-35), TP@ 1.5485 (+140)
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1. GBPUSD             is moving up on the 4h chart (main trend on this timeframe is up)
2. Solid support area between 1.5330 and 1.5350
3. Very volatile currency pair, so big swings around 20EMA are quite often and give a a good possibility to rejoin the major trend
4. Might close only a half position at 1.5485 and hold the second half up to 1.5580 (SL then at 1.5375)
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Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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