GBP/USD - INTRADAY - LONG OPPORTUNITY OFF THE FIB. LEVELS
Updated
Intraday buy opportunity of the zone highlighted between the 61.8 and 78.6 Fib retracements. The price looks like is within a fractal consolidation which is why I believe there could be another minor push to the upside. The overall trend is a downtrend which is why close monitoring must be applied to lock in any profits that are made.
Will be updating along the way.
My personal details:
E @ 1.3335
SL @ 1.3317 (18 pips)
TP @ 1.3389 (53 pips)
RR = 2.94
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Will be updating along the way.
My personal details:
E @ 1.3335
SL @ 1.3317 (18 pips)
TP @ 1.3389 (53 pips)
RR = 2.94
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Comment
setting up for another impulse?Comment
showing signs of weaknessComment
Comment
In the zone - it's all or nothing now - has to make a move nowComment
price just died off since yesterday late afternoon - maybe forming a larger fractal?
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