Forex Signal Trade Review on GBPUSD traded on 19 July 2016
Beginner in Forex Online Trading Course gets average 120 pips profit in GBPUSD
Entry 1 : RISK & Market Order
After the Brexit announcement, GBP was the biggest mover for the event. GBPUSD had a big movement of 1700 pips (estimation) on that week itself and GBPUSD continue to fall further on the following week opening. Binni had her eyes on GBPUSD for almost a month before deciding to trade into the GBPUSD.
Finally GBPUSD gave us some clues on where it was heading next (at least temporary), and the idea to short the GBPUSD was formed on 18 July 2016.
A Sell Limit order was placed at 1.333 and most students had it filled at 1.3280 (after giving some buffer) on 19 July 2016. Subsequently we turned our remaining positions into market order at 1.3220 once we are more convinced that GBP is weakening. At that point of time, our intended TP level was 1.300 and it will be a whooping profit of 500 pips if reached!
Unfortunately, we had to square off all of our positions at 1.3155 on 21 July 2016 due to support level not broken. Nevertheless, most of our Tflow® Traders had gotten themselves at least 150-190 pips profit! Even though we still hope that our intended TP could come true, but it still feels great to have money in the pocket *smiles*
Entry 2: Trading with Profit
After previous positions had been TPed, price retraced to an attractive level which offers a low risk entry. We used the profit from previous position to trade into GBPUSD again.
In the lower time frame, it presented a typical short setup taught in Tflow® Theory which seemingly looks bearish once again. However due to the volatility and spikes in GBPUSD, this batch of shorts was taken out with 80 pips losses.
And the final outcome for GBPUSD is NETT 110 pips gain!
Currently the GBPUSD is showing neither BULL nor BEAR direction, thus the best solution is to watch and wait till opportunity presents. Till then, wait for updates in G+!
If you like to trade the GBPUSD for the potential hundreds pips movement,
Join us in 3 simple steps:
A lot of our forex traders are beginners. What our Tflow® forex traders said…
To your trading success,