meszaros

Waiting for GBPUSD long entry at 1.16878.

Long
OANDA:GBPUSD   British Pound / U.S. Dollar
Waiting for GBPUSD long entry at 1.16878. I use the following set of rules. The white box in the analysis shows the H4ATR range. This is the range that GBPUSD "moves" within 4 hours at current ATR values. There is also a narrower red square. These squares are the "spike areas" to which the exchange rate can go. Therefore, I assume that the exchange starts north of this H4ATR area. Therefore, I move the H4ATR from 50% (1.16878) to the long position. The figure shows the STOP LOSS (1,13590) The starting RR: 1.65 so I start the SL just below the last correction after the start so I increase the RR to 2.

Comments

Hi John please may I kindly confirm the suggested SL for this position? Many thanks
+3 Reply
Any ideas when it’ll go back on a strong sell?
+1 Reply
meszaros UnknownUnicorn6258678
@UnknownUnicorn6258678, I'm not thinking about it right now. Long position trading.
+2 Reply
Perfect!
Reply
Hello,
How long do you think it will take for it to climb to 1.22
Thanks
Reply
next stop is 1.22
Reply
meszaros AdeOluseun
@AdeOluseun, Yes, I trust that.
Reply
Thanks for posting this M- We have similar targets to aim for with different approach which is great. Time trend puts move to Wedensday from low to high of crash move, its a guide, sometimes its accurate sometimes not. Tuesday - Wednesday I'm paying attention to this pair.
Reply
@M-G, Thanks for the comment. When markets work normally, I use earlier entry signals. But now, in this difficult market situation, I am entering a second reinforcement. Positioning on the second input signal is harder to achieve at 2RR. But now I'm more focused on 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 Private Messages Chat Sign Out