GBP/USD, Open Sell near 1.2662 (Trading Plan)

FX:GBPUSD   British Pound / U.S. Dollar
I will open Sell near 1.2662


- The price broke down the 1-month accumulation
- Daily trend is bearish
- Near 1.2662 the best risk/reward ratio

After 100 like, I will write, when is the best to open a position with (Stop loss and Take profit points) (if the price hit by all criteria.)
Comment: Price come close to sell Zone

I will open Sell if the price will make fake broke of 1.2661 and H1 close under that level.

Entry near 1.2662 - 1.2650
S/L: 1.2689
T/P: 1.2505
Comment: GBP/USD Update

The price is making pullback to a key level.
Many traders asked me, can they open entry now/
At this moment the price 1.2615, your stop loss should be above 1.2680
For me the risk of 65 pips is too big, that's why I wait on a pullback.

If you love risky entries you can Ope Sell now.

I wait when the price will make pullback to 1.2660 and I will open entry. Because there my risk will be 30 pips. And I will be able to get risk/reward ratio 1 to 5 or even 1 to 10.
Trade closed: target reached: Those who opened sell near 1.2620 you can close 50% of position and hold it without risk.
Trade closed: target reached: The price moved down 150 pips today

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@Yuriy_Bishko when did you open this trade? It never made it to 1.2662 and you didnt post an alternative entry. When did you enter the trade?
+1 Reply
cruelman84 cruelman84
@Yuriy_Bishko It's back at 1.266 lol is this plan still valid?
Last 3 candles H4 chart are green. It's seem that we are ride up to level 1.266...
Good plan)
+1 Reply
Yuriy_Bishko Moiseiev_Yurii
@Moiseiev_Yurii, thanks
Any help? Not going towards the target, can we sell if lower than the target?
+1 Reply
Yuriy_Bishko MohammadAhmed
@MohammadAhmed, Yes, you can. But it too risky for me. Stop Loss above 1.2885
MohammadAhmed Yuriy_Bishko
@Yuriy_Bishko, you are right
I just realized
Being a newbie

I fully understand what you mean and can say you are right
Yuriy_Bishko MohammadAhmed
@MohammadAhmed, great to read it
If we draw fibonacci retracement on the H1 chart then we see that the 61.8% level is around the 1.2640 range. If there is retracement and resistance up to the 61.8% level and then a confirmation signal for a sell, would that be a good trade?
+1 Reply
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