GBPUSD Long by Bijoymj

Trading Discussion
1

Pair: GBPUSD

Time frame: Daily

Long or short: Long

Trade rationale:

  1. Price testing an area which held as support for the last 5 times since July 2010
  2. Stochastic seriously over sold

Entry: 1.5290 (At market)

Exits: SL at 1.5140, TP at 1.6040

Trade is offering an RR of 1:5

Chart:

gbpusd historical trade 1.jpg700×385 34.6 KB

BIJOY

Trade Idea inValid. Hit SL

2

Is that also a hammer forming on the 1h and 4h?

3

Not Sure. Hoping for the best.

4

Trade invalid. Hit SL. Waiting for a reversal for further action