GBP/USD Swing Trade Stop Loss 10 Pips And Take Profit 300 Pips

20 December 2016, 06:17
Ahmad Hassam
0
70

GBP/USD is a pair that is highly volatile. You never know when it changes it direction.

The trick to make a lot of pips with GBP/USD is to keep the risk as low as possible.

You can do that by reading the charts and doing your analysis correctly.

First read the direction of the market on weekly and daily.

Once you have determined the direction of the market, switch to H4.

Locate a low risk entry and enter into a trade.

Read this blog post in which I explain a recent GBP/USD swing trade made on the eve of FOMC Meeting.

The stop loss was only 10 pips. Just reading the charts I knew this is an important resistance level.

Price will try to retest it. Now you can be wrong. That's is the precise reason we need to keep as low as possible.

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