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Carlos44
Jan 5, 2021 1:15 AM

GBP/USD - CONTINUATION FROM 1.35 AREA OR 1.3445 Long

FX:GBPUSD15
British Pound/U.S. DollarFXCM

Description

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looking for buys from 2 zones

ZONE 1

Buy limit 1 : entry :1.35000 -1.35060
Stop loss: 1.34900 (16 pips)
Take profit: 1.36700 (+160 pips)
R:R 1:12

1. Gbp/usd uptrend
2. 1.35l
3. Daily s1
4. Gap below 135.0
5. 71%

Looking at buying gbp/usd from 1.35 region if we break below this region I think we could see another entry from the 1.34500 region we have numerous

ZONE 2

Buy limit 2 : entry : 1.34450 - 1.34500
Stop loss : 1.34320 (13 pips)
Take profit : 1.36700 (+200 pips)

1. Gap below 134.5
2. Daily s2
3. apm max out 150 pips


Looking again at buying gbp/usd from the region of 1.34450 - 1.34500
if stopped out of first postion you can take this set up as a back up

If price breaks below the 1.344 level trade will be invalid


Comment

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Still haven't hit any of my limit orders it does look like that we could go straight to the target of 1.367 if we break above this we could also see the 1.37 banking level hit

Trade closed: target reached

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went straight to the area without the deeper pullback we just started ranging before going up quite a bit to the area that I said
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