Little analysis of the different scenarios that could happen for the pair GBPUSD.
I have an open position at 1.29880, currently in breakeven, so I will think about what the price will touch my Take Profit after having touched up the old resistance as a courtesy (which could represent a second opportunity for a buy) even if the one - I think it is far too close to the goal to redo a visit.
Then I would see how the price reacts to 1.32730, two scenarios are possible,
- It still flies to join 1.34800, most likely scenario for me, I would take this trade at the first signal with I think:
Entry at: 1.33 (to be comfortable)
SL at: 1.32550 (45 pips RISK)
TP at: 1.34800 (180 pips) The price might have some problem at 1.34000 but I think it will work out, I will not risk until 1.35 to secure my trade
A trade of 1: 4
-If the price rebounds on 1.32730 in this case, I will let the price go towards resistance 1.31600 to see how it reacts, either a buy to go to 1.34800 (trade that I would take and which will be better than the 1st), or well a fall towards 1.30000.
If he decides to fall to around 130,000:
Entry at: 1.31335
SL at: 31755 (40 pips RISK)
TP at: 1.30000 (135 pips)
This week for the GBP have the publications of the PMI indices, so except in case of surprise compared to the expected value its should go well for the GBP.
For the USD we have several things to watch this week, the PMI, ADP indices, unemployment rate, should therefore be closely scrutinized the small unexpected which may change our plan in the short term.
(Hoping to be spared huge graps this week)
Signals will be posted on my account as and when the advent, do not forget to subscribe!
I have an open position at 1.29880, currently in breakeven, so I will think about what the price will touch my Take Profit after having touched up the old resistance as a courtesy (which could represent a second opportunity for a buy) even if the one - I think it is far too close to the goal to redo a visit.
Then I would see how the price reacts to 1.32730, two scenarios are possible,
- It still flies to join 1.34800, most likely scenario for me, I would take this trade at the first signal with I think:
Entry at: 1.33 (to be comfortable)
SL at: 1.32550 (45 pips RISK)
TP at: 1.34800 (180 pips) The price might have some problem at 1.34000 but I think it will work out, I will not risk until 1.35 to secure my trade
A trade of 1: 4
-If the price rebounds on 1.32730 in this case, I will let the price go towards resistance 1.31600 to see how it reacts, either a buy to go to 1.34800 (trade that I would take and which will be better than the 1st), or well a fall towards 1.30000.
If he decides to fall to around 130,000:
Entry at: 1.31335
SL at: 31755 (40 pips RISK)
TP at: 1.30000 (135 pips)
This week for the GBP have the publications of the PMI indices, so except in case of surprise compared to the expected value its should go well for the GBP.
For the USD we have several things to watch this week, the PMI, ADP indices, unemployment rate, should therefore be closely scrutinized the small unexpected which may change our plan in the short term.
(Hoping to be spared huge graps this week)
Signals will be posted on my account as and when the advent, do not forget to subscribe!