Here's a breakdown of your GBP/USD trading plan with key levels
Trade Plan Overview
Current Price: 1.25700
Position: Short (Sell)
Target: 1.24500
Stop Loss: 1.26600
Risk-Reward Ratio: ~1:1.33
Trend: Bearish
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30-Minute Chart Analysis
1. Bearish Trend:
The chart should show consistent lower highs and lower lows, aligning with the bearish momentum. Confirm with moving averages (e.g., EMA/SMA) sloping downward.
2. Key Resistance Levels:
1.25700 (Entry): Recent resistance level or where selling pressure is expected.
1.26600 (Stop Loss): Positioned above a significant resistance zone to account for potential pullbacks.
3. Key Support Levels:
1.25000 (Intermediate): Watch for minor support near this psychological level.
1.24500 (Target): Positioned near a recent low or a significant support zone.
4. Indicators to Watch:
RSI: Ensure it’s below 50 (preferably oversold zone near 30 for added confirmation).
Volume: Increasing volume on downswings to confirm selling pressure.
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Risk Management
Lot Size: Adjust based on risk percentage of your account (e.g., 1%-2%).
News Events: Be cautious of GBP or USD-related news that could trigger volatility.
Current Price: 1.25700
Position: Short (Sell)
Target: 1.24500
Stop Loss: 1.26600
Risk-Reward Ratio: ~1:1.33
Trend: Bearish
---
30-Minute Chart Analysis
1. Bearish Trend:
The chart should show consistent lower highs and lower lows, aligning with the bearish momentum. Confirm with moving averages (e.g., EMA/SMA) sloping downward.
2. Key Resistance Levels:
1.25700 (Entry): Recent resistance level or where selling pressure is expected.
1.26600 (Stop Loss): Positioned above a significant resistance zone to account for potential pullbacks.
3. Key Support Levels:
1.25000 (Intermediate): Watch for minor support near this psychological level.
1.24500 (Target): Positioned near a recent low or a significant support zone.
4. Indicators to Watch:
RSI: Ensure it’s below 50 (preferably oversold zone near 30 for added confirmation).
Volume: Increasing volume on downswings to confirm selling pressure.
---
Risk Management
Lot Size: Adjust based on risk percentage of your account (e.g., 1%-2%).
News Events: Be cautious of GBP or USD-related news that could trigger volatility.
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