GBP/USD: Weekly Signal
Forecast -- sell stop
Pair: GBP/USD
Time Frame: H1
Date: 24th of April, 2017
Period of trading: between 24th and 28th of April, 2017
- Sell stop at the 1.2740 price.
- You should take profit at the levels of 1.2585 and 1.2520. Because the previous range was large (391 pips).
- Stop loss should set depend on the money management and risk management strategy.
- We always use this formula in signals.
Take profit = 3/2 x Stop loss
Stop loss = (2 x Take profit) / 3
Stop loss = (2 x (1.2740 -1.2520)) / 3
Stop loss = (2 x 220) / 3
Stop loss = 146
In this case, we prefer to set the stop loss at 1.2886.
TP = + 220 pips.
SL = -146 pips.
Enjoy signal.
