cvfxwealth

GBPUSD Retrace Sell Signal

Short
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD is currently in this upwards channel but my bias is still to the downside long-term.

Red thick line: Main up trend line
Red dotted line: 4hr up trend line

Price has tested the backside of the daily up trend line and bounced off nicely. Expecting price to go back towards the 4hr up trend line .

Entry @ 1.3075-1.3100

TP @ 1.3000

After we hit the bottom of the channel we will reevaluate to see how price reacts to this level to continue trading.


Good luck and let me know if there are any questions.

Charles V
CVFX Management
Trading made Simple
Comment: TP hit for 75 pips.

Comments

what should our stop loss be?
Reply
cvfxwealth gracetmanuel
@gracetmanuel, Safe conservative stop loss should be 20 pips above top channel trend line. Always remember risk management. When I trade a pair it will only be under 1% of account size. A few percentage of gains a week will give you long term growth and safety.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out