From Mid February onward, the Bear are out for blood in EURGBP. You can see from this H4 chart that the Bears are in Full Control. In just 2 weeks, EURGBP declined 300 pips. Usually this type of decline will not last forever. Sure, it might continue going south for the longer term but it will have to retrace at some point. That’s where the Super Forex Launcher comes in. We are now seeing support and especially with a pin bar and a green bar, perhaps a reversal is in play now.
As always, we want the Bulls to show commitment we get into position. Trend Reversal Strategy can be risky if we just jump in blindly. Using the Super Forex Launcher as guidance, here’s our approach to this trade.
- Buy Stop Order: 0.95516
- Stop Loss: 0.95275
- Take Profit: 0.95952
If the Bulls do not jump into action as we expect, then it’s all cool because our Buy Stop Order will not be triggered. If the Bulls get active, then we want to be in position. This is the main reason why we like using Stop orders. If you would like to learn more about this powerful trend system, click here to learn more.
The Secret Strategy used by Legendary Traders
Update: Reversal Trend Strategy EURGBP 1st March 2019
This trade has gone our way and in just one day, our TP target hit and we are now out of this trade completely.
We could easily identify reversal opportunities using Super Forex Launcher Indicators. If you like to catch trend reversals (which is a highly profitable strategy), then click here to learn more about Super Forex Launcher.
Claim Your $60 No Deposit Bonus Here
All you need is to have your live account verified!
Of course, you need to open a live account...
2 Brokers that we like A LOT!
USD30 from each Forex Broker Below.
Both Forex Brokers have excellent rating!
We use both of these brokers and proudly promote them!
NOTE: Not all countries qualify for these bonuses. Terms and Condition Applies.Other Analysis Today