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Wednesday, May 14, 2014

For #ProfitableFX system users - #Trade entry example


This morning I have a long trade on $GBPUSD based on possible h4 / h1 correction due to short term bearish 161.8 (golden ratio) completion move. This completion move, when / if correctly drawn, indicates that at least a short term correction may be required.

GBPUSD h4 chart


GBPUSD h1 chart


And finally an entry is taken on m1 We can see long term HULL MA is in a bullish state with good support represented by 200 & 62 (=15 second 200 ema) with an add to the position near the long term HULL Solid break of long term HULL lower would invalidate this trade as such a break would open the possibility of a 261.8 fib completion. I will add stop losses later in case the add is achieved on long term HULL.

GBPUSD m1 chart


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