10.04.202010:46 Let's work out trading idea on GBP/USD: how to lock in profits of +1,700 pips

Exchange Rates 10.04.2020 analysis

Hi dear traders! My congratulations to those, who followed my trading idea from April 8 about long deals on GBP/USD. Let me remind you that the idea was based on the methods of hunting stop orders and Price Action. In a nutshell, we had to work out or "digest" the trend.

Trading plan:

Exchange Rates 10.04.2020 analysis

How it worked:

Exchange Rates 10.04.2020 analysis

If you were careful about my analysis and forecast, I recommended placing take profit at 1.25. However, European trading floors are working a shorter week and closing on Good Friday. So, amid lower volatility my trading decision is to lock in profit at the current price level.

I reckon I can reap a profit of nearly 1,700 pips.

Good luck in trading! Have a nice weekend!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Viele Grüße,
Analytiker: Andrey Shevchenko
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