Forex Trading EURUSD H4 (22 Nov 2018)
EURUSD is currently in a tug of war between the bulls and the bears. Price is currently trading in a range of about 50 pips (Around 1.1380 to 1.1430).
Will wait for clear direction before planning trade for EURUSD.
Just had a profit of 57 pips for GBPJPY. Trade entered early in the morning with price 144.628 and profit target of 145.20. This is a trade of about 1:1 risk-reward ratio.
Let’s take a look at forexfactory to see if there are any high impact news (red) today. Note: Time is GMT (+8).
As we can see above, GBP has made significant price spike after Prime Minister speaks about Brexit. This news release allows both my profit target for GBPJPY and EURGBP positions to trigger.
Note: Always have your stop loss or hedge in place before any major news release as price can go either direction in a very short span of time.
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