On May 31 2024 I posted on social media @AidanFX the GBPUSD SELL setup chart and I also posted the entry with stop and target. Chart illustrated for traders to wait for price to tap the sell zones (Purple & Blue) before entering the sell trade.
GBPUSD 15 Minute Chart May 31 2024 (Setup)
GBPUSD 15 Minute Chart May 31 2024 (Entry)
Sell trade entered on May 31 2024 at 1.2746 with a 20 pip stop loss at 1.2766. GBPUSD moved lower to the proposed target and on June 3 2024 the 1:2RR target at 1.2706 hits and is where I closed the sell trade for +40 pips and a +2% gain (Risking 1% on every trade).
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. If you followed me on social media you too could have caught the GBPUSD move lower.
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
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