My thoughts on GBPUSD 12th Jan 2024
GBPUSD sell limit
@ 1.2786
SL 1.2806
TP1 1.2766
TP2 1.2746
TP3 1.2726
TP4 1.2688
(Least possible risk per least lot size per entry = -$2)
I think the cable will rally to that 30min supply zone above recent highs where retail trader's liquidity also lies. Possibly that liquidity will enable the market makers to buy at a premium then drop to take out the recent lows. Risk:Reward = 5.4. I also think EURUSD will emulate the same movement.
EURUSD sell limit
@ 1.1009
SL 1.1040
TP1 1.0970
TP2 1.0940
TP3 1.0910
TP4 1.0055
(Least possible risk per least lot size per entry = -$3.1)
Don't risk more than 2% of your account balance.
@ 1.2786
SL 1.2806
TP1 1.2766
TP2 1.2746
TP3 1.2726
TP4 1.2688
(Least possible risk per least lot size per entry = -$2)
I think the cable will rally to that 30min supply zone above recent highs where retail trader's liquidity also lies. Possibly that liquidity will enable the market makers to buy at a premium then drop to take out the recent lows. Risk:Reward = 5.4. I also think EURUSD will emulate the same movement.
EURUSD sell limit
@ 1.1009
SL 1.1040
TP1 1.0970
TP2 1.0940
TP3 1.0910
TP4 1.0055
(Least possible risk per least lot size per entry = -$3.1)
Don't risk more than 2% of your account balance.
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