This trade is not valid to enter yet.
Entry:
We plan to take a long position on GBPUSD once we have a slight retracement down to 1.18419 - the level which is the current low of the year acts as a key level of interest for major institutions, so we can expect a very thick order depth here.
Exit:
If we manage to get our long position after the retracement, our point of exit sits at our 61.8% fib marker off our L + H. Total potential profit for this trade is 273 pips with a lot of room to trail stops.
Entry:
We plan to take a long position on GBPUSD once we have a slight retracement down to 1.18419 - the level which is the current low of the year acts as a key level of interest for major institutions, so we can expect a very thick order depth here.
Exit:
If we manage to get our long position after the retracement, our point of exit sits at our 61.8% fib marker off our L + H. Total potential profit for this trade is 273 pips with a lot of room to trail stops.