For the first time knocked out the stop loss. I restarted again. My strategy is based on work against classical technical analysis
Remember
-Never risk more than 2-3% of your balance on a single trade. And If you are a beginner 1%.
-A Single or few trades result is not important. Whats important is the net return at the end of the month, quarter and year.
Do you want a secret to successful trading? Buy against the classic technical analysis. Because a good trend channel is seen downwards with a sharp drop, it can be a trap
I buy 1.28750 . SL 1.28580 TP 1.29700
Remember
-Never risk more than 2-3% of your balance on a single trade. And If you are a beginner 1%.
-A Single or few trades result is not...
The went lower last week, formed just above near-term support at 1.2828. As we have discussed recently,Bulls still taking in control. traders can still watch for pull backs ideally followed by a price action buy signal on the 1 hr, 4 hr or daily charts to get long.
Regarding to my last week analysis about GBPUSD/Sterling. GBPUSD exploded higher last week at the price broke above 1.2570 resistance. It closed well above the neaby resistance. This is obviously a Bulls taking in Control while bear still asleep. We can look for minor pull backs to the downside to get long and trade in-line with the bullish momentum. The price...
We take short position below the red triangle and book profit at 1.24000.
Do not open a trade if the closes above the red triangle.
Get out of trade if it breaks 1.291000
There is a possibility that GBP/USD holds it's support and breaks it's resistence about 200 pips up.
This is a continuation pattern. You can wait for more confirmation before investing.
Always make your own analysis before getting in any position as well as money manage properly. FX_IDC:GBPUSD
GbpUsd is nearing a resistance zone, it's likely that from this area the area there will be a strong wave down specially if the 1st lower range breaks. This will make 1,2580 a nice target to use as take profit on GbpUsd pairs.
I dont expect the 2nd lower range to break straight away after it, a wave back up touching the 1st lower range is more likely but if the...
