GBPUSD trade idea for long.
Updated
This is a technical analysis chart for the GBP/USD currency pair on a 30-minute timeframe from TradingView. Here’s a breakdown:
Entry Zone: Highlighted in red, this is the suggested price range for entering a long position.
Stop Loss (SL): Positioned at 1.21811, marking the level where the trade will be closed to limit losses if the market moves against the position.
Take Profit (TP):
TP1: Positioned at 1.22778, the first target for taking profits.
TP2: Positioned at 1.23443, the second target for taking additional profits.
Current Price: The live price is 1.22479, indicating the market is approaching the entry zone.
Risk-to-Reward Ratio: Based on the setup, this trade appears to aim for a higher reward compared to the risk.
This chart illustrates a bullish trade plan, where the trader expects the price to rise after entering the specified zone.
Entry Zone: Highlighted in red, this is the suggested price range for entering a long position.
Stop Loss (SL): Positioned at 1.21811, marking the level where the trade will be closed to limit losses if the market moves against the position.
Take Profit (TP):
TP1: Positioned at 1.22778, the first target for taking profits.
TP2: Positioned at 1.23443, the second target for taking additional profits.
Current Price: The live price is 1.22479, indicating the market is approaching the entry zone.
Risk-to-Reward Ratio: Based on the setup, this trade appears to aim for a higher reward compared to the risk.
This chart illustrates a bullish trade plan, where the trader expects the price to rise after entering the specified zone.
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