I've placed the 3rd limit order on GBPUSD at 1.4098 Both trailing stops from the previous 2 orders is following the market nicely. The next resistance 1.41086 and I expect a drop down towards 1.3940 - 1.405 support levels. As always, Plan your trades and Trade Your Plan!
I see GBP stretched short term and a corrective pullback is overdue! Fundamentally strong and technically super strong however I do sell a pullback towards the 20MA on daily charts wether or not it gets there is another story. I’m hoping it does as I’m looking for a long entry around 1.3850
evert.tracks
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@jaxon424, I understand your tactic. I am currently placing long orders on the way up at the highs,instead buying into dips, because sometime you just can't catch the dips. My order is now filled at 1.40980
jaxon424
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@Evert.tracks, yes I understand however if your scalping with big lots then going long at that entry no problem to nick 10-20 pips. However I’m trying to get into a bigger move and I wouldn’t be buying at this price regardless a corrective pullback is coming dude
evert.tracks
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@jaxon424, Cool. each their own off-course :) yes and you're right. This is a 4-hour chart. If I'm looking at longer or bigger moves than I would look at the day or weekly time frame instead of hourly charts.
I'm just riding the wave up (on the hourly chart) and adding to my position on newer highs, hence a trailing stop-loss protect my trades ✌