I hope that you guys have made some profits from the GBPUSD movement yesterday after reading my tips on Sunday.
After the price broke below the level, it has moved by 85 pips in our favor.
In fact, the GBPJPY and GBPUSD triggered our entry yesterday and we made 175 pips profits from these 2 pairs. Instead of waiting for the price to hit our 100 pips target profit, I decided to exit both the trades at 85 to 90 pips instead and wait for another entry today.
We are still waiting for the EURUSD to trigger our entry which will be another 80 to 100 pips profits.
For the GBPUSD, it is now in consolidation mode after making the sharp movement yesterday. The price usually go into consolidation to relieve the selling pressure yesterday before they make the next movement.
For me, I will continue to go SHORT for this pair as it has the potential for another 50 to 100 pips.
So my tips for you in this post is to wait for the GBPUSD to break a major support to enter a trade. The current major support is at 1.31439 but you have to be careful as the price likes to make a fake breakout to lure traders to enter a trade and then move back up to stop them out and then make the big downward movement.
This is exactly what happened yesterday for our GBPUSD and GBPJPY trade.
For the GBPJPY, it has moved down by 42 pips in our favor and then pull back up 32 pips. If you are afraid, you will have exit the trade with 10 pips profits instead of 90 pips.
For the GBPUSD, it has moved down by 49 pips in our favor and then pull back up 39 pips.
If you had entered the trade at the later part of the 40+ pips thinking that the price is moving down, the upward movement might have stopped you out. This is exactly what the market is always doing.
For user of my trade copier, I set the stop loss slightly higher than the major support that I told you guys about and therefore the fake pull back did not stop us out and eventually we get our 85 pips and 90 pips for the GBPUSD and GBPJPY respectively.
The good thing about the trade copier is that I am constantly keeping a lookout for your trades and I will adjust them accordingly to maximise our profits.
So do keep a lookout for the GBPUSD today as it will make you some good profits.
If you are interested in joining my trade copier, you can take a look at the link below for more info