There are trading opportunities on the EURUSD, GBPUSD and GBPJPY for this coming week and if you are a user of my trade copier, please look forward for this opporunities as these are trades with high risk reward ratio of 1:3.
If the price did trigger our entry, these 3 trades will be set at 100 pips target profits each.
But I am not saying that they are a sure win trades as there is no sure win trade in trading. What we have is a high winning probability trade which will gives us a higher chance of winning.
To be fair for user of my trade copier, I am unable to give you guys in my blog all the entry for the 3 pairs but I am going to share with you one of the pair which is the GBPUSD.
For the GBPUSD, if you take a look at the hourly chart, you will see that it has just bounced off the 400 EMA.
If you take a look at the 4 hourly chart, you can see that the price has just bounced off the 100 EMA which is a good confluence of events.
So what should you be looking for this week
If the price manages to break below the 1.32417 level and closed below it, you can look to enter a SELL trade for the GBPUSD.
However when the price has moved by 25 pips in your favor, please remember to shift your stop loss to breakeven as we must not forget the strong support of the 400 EMA on the hourly chart and 100 EMA on the 4 hourly chart.
Some of you may think that why dun we just exit it when the price touches the 100 and 400 EMA again.
But in order to get the 100 pips profits, the major move is always when it breaks through the levels. If you think of entering again after the price has broke the level, it will be at least 20 to 30 pips away from the level which makes it a risky trade.
If you are interested to join my trade copier service, simply go to the link below for more information