ForexSignalPort Free GBPUSD LONG Technical Trade

GBPUSD Bullish Gartley : Trade Setup Recommendation : 5 Feb 2019 (Closed for +409 pips)

GBPUSD Bullish Gartley seen on H4 timeframe with D1 100 MA coinciding with PRZ. Brexit news could lift Pound, but lack of clarity during this week is seen as risk for Long trades.

Phibase team expects GBP to do better against Yen due to USD Strength which may limit GBPUSD moves. INDEX EA is short on GBPJPY. The manual long trade could provide good hedge to the INDEX short trade. Conditional trade entries on GBPJPY will be setup based on reversal at PZR on GBPUSD chart. We currently have GOLD and USDCAD trade setups in consideration - Since FSP is allowed to take only one manual trade, the trade offering best risk:reward will be executed.

  • Symbol : GBPUSD
  • Analysis time frame H4
  • Original Recommendation Date : 5 Feb 2019
  • Technical : GBPUSD Bullish Gartley
  • Potential Reversal Zone on GBPUSD chart: 1.2900 to 1.2833
  • Target Price : 200 pips
  • Stoploss : 75 pips
  • Hidden Stoploss : lower timeframe S/R levels
  • Risk:Reward = 1:2 (-75 pips: +150 pips)

Update 12 Feb 2019 : GBPJPY LONG : Executed @ 142.00. Closed for +29 pips.

Update 14 Feb 2019 : GBPUSD LONG : Executed @ 1.2830. Closed for +59 pips.

Update 19 Feb 2019 : GBPUSD LONG : Executed @ 1.2902. Closed for +138 pips.

Update 20/21 Feb 2019 : GBPJPY LONG : Executed @ 144.94. Closed for +60 pips. Hedge GBPJPY short trade was kept open to protect INDEX Long GBPJPY aginst adverse moves. The Hedge trade was closed at SL hot of -150 pips. The setup lost net -60 pips

Update 26 Feb 2019 : GBPJPY LONG : Executed @ 145.93. Closed for -24 pips.

Update 26 Feb 2019 : GBPJPY LONG : Executed @ 145.84. Closed for +185 pips.

Update 26 Feb 2019 : GBPUSD LONG : Executed @ 1.3187. Closed for +112 pips.

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