Forex Signal GBP/USD: Curves Draw a Bearish Wedge Pattern

    Forex Signal GBP/USD: Curves Draw a Bearish Wedge Pattern   There are chances of the price dropping to $1,1958.  

• The previous GBP/USD signal issued last Tuesday could have produced a profitable short trade as the resistance level set at $1,2130 capping the day's high to pips rejects the downtrend.

 

Today's GBP/USD Signals

 

• The risk is 0,75%.
• Transactions can only be entered until 17h00 London time on Tuesday.

 

Buying Trading Tips

 

• Go buy as soon as the bullish price action reverses on the H1 time frame with the next touch of $1,1958 or $1,1926.
• Put the stop loss 1 pip below the local swing low.
• Set stop loss even when the trade is 25 pips in profit.
• When the price reaches 25 pips in profit, take 50% of the position as profit and leave the rest of the position running.

 

Forex Signal GBP/USD: Curves Draw a Bearish Wedge Pattern

 

Sales Trade Tips

 

• The next time you hit $1,2100 or $1,2170, go sell immediately after a bearish price reversal on the H1 time frame.
• Place the stop loss 1 pip above the local swing height.
• Set stop loss even when the trade is 25 pips in profit.
• When the price reaches 25 pips in profit, take 50% of the position as profit and leave the rest of the position running.

   

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