Buy GBPUSD on oversold RSI and Fib 50% support respect 4 Hour
I've entered two positions on the long GBPUSD.
Entry 1: Open – 1.328, Take profit 1: 1.3605, Stop loss 1: 1.3177, Risk ratio 3:1
Entry 2: Open – 1.328, Take profit 2: 1.3844, Stop loss 1: 1.3177, Risk ratio 5.5:1
Based on the oversold RSI and respect of Fib (or Gann) 50% with stop loss below the support with room to breathe and good reward ratios.
Entry 1: Open – 1.328, Take profit 1: 1.3605, Stop loss 1: 1.3177, Risk ratio 3:1
Entry 2: Open – 1.328, Take profit 2: 1.3844, Stop loss 1: 1.3177, Risk ratio 5.5:1
Based on the oversold RSI and respect of Fib (or Gann) 50% with stop loss below the support with room to breathe and good reward ratios.
Trade closed: stop reached:
Trade closed, GBP continues to fall.