On January 10 2023 I published an article ” EURGBP : Trading Zones ” where I gave the area on which to look for buying opportunities. In the article I wrote “possible trade setups will be if price pushes lower to the demand zone (blue) then watch for possible buying opportunities against 0.8711 stops.”
The first chart below was posted in the article and the following charts after shows the January 19 2023 buy entry in the demand zone and the take profit target levels.
EURGBP 4 Hour Chart January 9 2023
EURGBP 4 Hour Chart January 19 2023
BUY trade entered at 0.8731 with Stop Loss at 0.8711 and on February 2 2023 EURGBP moved higher to the proposed maximum target at 0.8931 for a +200 pip move and a 1:10 Risk/Reward winning trade. (Risking 1% on every trade)
EURGBP 4 Hour Chart February 2 2023
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup.
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