The 4HR GBPUSD Forex Trading Strategy is a trend trading forex strategy that has the potential to average more than pips a month in profit (if there is a good trending market in the GBPUSD currency pair).. Time Frames Required. The 4hr GBPUSD strategy is a multi-timeframe trading strategy so you require the 4hr chart as well as the daily chart. Estimated Reading Time: 3 mins If you like price action trading, then this Breakout Forex Trading Strategy is one of them. Currency Pair: GBPUSD and you can also trade EURGBP Timeframes: You need the 1hr and 5min timeframes for this strategy (this is a multi-timeframe trading setup) Forex Indicators: none required BACKGROUND. This breakout forex trading strategy allows you to catch the early move of price when it is Estimated Reading Time: 2 mins GBP/USD, often referred to as the Cable by market players, is a vastly traded currency pair on the Forex market. Because it is that widely traded, GBP/USD is considered as one of the most liquid and cash rich pairs on the market. It also belongs to the group of the so called “major currency pairs”
4HR GBPUSD Forex Trading Strategy
If you like price action trading, then this Breakout Forex Trading Strategy is one of them. Timeframes: You need the 1hr and 5min timeframes for this strategy forex gbp usd trading strategy is a multi-timeframe trading setup.
This breakout forex trading strategy allows you to catch the early move of price when it is starting to establish its trend or market direction for the day. This chart below will make this strategy much more clearer. This is the 1hr forex chart where you begin your trading analysis following the steps given above:.
This 5 minute chart below is where you trade. All forex trading strategies and systems have weaknesses. And as such this strategy is no exception:. This is the European forex session and forex market starts its day in Europe first. Then Draw parallel horizontal lines through those two price extremes-this will create a tunnel. This step here is very important: then switch to a 5 minute chart and wait and watch to see if a 5 minute candlestick closes outside of the tunnel.
Forex gbp usd trading strategy it closes above the highest high, you initiate a buy order If it closes below the lowest low, you initiate a sell order. Buy order can be at market order or buy stop order. A sell order can be a market order or sell stop order. Place your stop loss at least 5 pips outside the tunnel should not be exactly on the tunnel lines. This is the 1hr forex chart where you begin your trading analysis following the steps given above: This 5 minute chart below is where you trade.
TAKE PROFIT TARGETS You can use these few options here to set your take profit targets: 3 times what you risked, forex gbp usd trading strategy. if buy trade, set your Take Profit targets within the previous swing high peak or if sell then use a previous swing low point bottom, forex gbp usd trading strategy.
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Day Trading GBPUSD: One Simple, Repeatable, Profitable Trade (To Take Daily)
, time: 4:59GBP/USD Forex Trading Strategy
Fig. Free Download. Download the 1-Minute Forex Scalping Strategy For GBP/USD. About The Trading Indicators. There is an added benefit, that you can also use this strategy for 5 minute scalping and also on the 15 minute chart, as the choice of indicators makes it blogger.comted Reading Time: 3 mins Nov 20, · Just because the forex market is open hours a day, doesn't mean every one of those hours is worth trading. The GBP/USD, with a cross rate of on June 23, , has certain hours which make more sense for day trading because there is enough volatility to generate profits over and above the cost of the spread and/or blogger.comted Reading Time: 4 mins Jan 08, · Day Trading Strategy For GBP/USD. Any trading plan coming from weekly pivots and analysis, or past transactions in 5-years average will be of use of the following strategies, including: Timing. Being in tune with your trading platform in buying and selling can be done all day as the most forex market is open hours a blogger.comted Reading Time: 8 mins
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