caleb_toole
Long

GBPUSD 4H BUY OPPORTUNITY

FX:GBPUSD   British Pound / U.S. Dollar
Looking at the strength and resistance and it has been a bullish candle around the support which has lead it to lead back up into a bullish movement.

I am hoping that it follows its history back unto around the area of resistance.

1:3 Risk Reward.

Just a beginner. Please give honest feedback! Always looking for tips and tricks! Thanks!
Trade active: SL HIT. - A lot of movement early morning at the opening of the London session which caused the SL to be hit.

Re entered the trade.
New Entry - 1.22448
New SL - 1.22280
New TP - 1.23650

Keeping this long term still. Focusing on the 4H time frame.

Comments

Have you thought about using Fibonacci Retracements? Incorporating them into your strategy will help you to set you SL and TP helping to manage risk and increase profit potential. Price here rejected the 0.618 retracement level which would have been a good signal that price could move to the upside.
+1 Reply
caleb_toole BazzleFrazzle
@BazzleFrazzle, Thanks for your comment! I am still learning and have just looked at Fibonacci and still trying to find out which points to plot. it does look like a great tool so I will be looking into it! Thanks mate!
+1 Reply
Good idea
+1 Reply
caleb_toole Jasmeenkaur
@Jasmeenkaur, Thanks! Time to wait and see.
Reply
Gbpusd is looking great
+1 Reply
@Ubani yeah I believe so! I hope it gets back up-to near resistance.
Reply
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