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Home Global Financial News

Rediscovering a Classic: GBPUSD Trading for FX:GBPUSD by RaynLim

fxanalyst by fxanalyst
September 11, 2023
in Global Financial News
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Ah, the good old days! This GBPUSD setup takes me back to my early trading days. The strategy? Simple yet effective: buy at support, sell at resistance.

While some may view it as a scalping trade, dismissing it as low volatility, here’s the kicker — there’s a potential 56 pips in profit.

My game plan? Patience. I’ll wait for the next support retest, keeping an eye out for that magic candle confirmation before making my move to buy. Alternatively, if the market hits resistance, I’ll await the same confirmation before considering a sell. ️

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