GBPUSD Long Pullback Trade
GBPUSD Long Pullback Trade
We closed below Previous Day Low and then returned above.
Stop Loss below the recent low: 1.32472
Take Profit: 1.33203
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 later H1
- Close the loser before hitting full SL if the retracement extends and the price does not confirm the anticipated reversal.
- Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1 or if momentum weakens indicated by MACD oscillator, consider closing the remaining position early to lock in profits.
*No important news for GBPUSD today*
We closed below Previous Day Low and then returned above.
Stop Loss below the recent low: 1.32472
Take Profit: 1.33203
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 later H1
- Close the loser before hitting full SL if the retracement extends and the price does not confirm the anticipated reversal.
- Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1 or if momentum weakens indicated by MACD oscillator, consider closing the remaining position early to lock in profits.
*No important news for GBPUSD today*
Note
- Wrong "We closed below Previous Day Low and then returned above."
- Correct "Price broke out from zone where I was looking for entry on retracement to anticipate in up trend on HTF."
Trade closed manually
1 TP was reached, Stop Loss moved to Break-even, started to trailing but there was strong rejection of local resistance so I closed the rest manually. Also New York session starts. Total +391.66$.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.