GBP/USD potential setup for pullback trading [Video]

Ming Jong Tey Independent Analyst

In the H4 timeframe, GBP/USD broke out the resistance at 1.3080 subsequently followed by a pullback as a test of the sign of strength rally. This could setup a potential pullback trading entry after the confirmation. If trading the pullback is your bread and butter setup, you will need to understand the one thing that every trader should do when trading the pullback in order to increase the winning rate and avoid the early entry or bad entry. Watch the video below (timestamp starts 4:35) where I explain in detail:

Below are the key parameters for GBP/USD potential long setup for trading session on 23 Oct 2020. Pay attention to the one thing you should do in the video to make sure the setup is valid.

Entry: long stop order at 1.3105

Stop loss: 1.3029

Take profit: 1.3240

Author

Ming Jong Tey

Independent Analyst

Ming Jong Tey has been trading since 2008. He started his learning journey from technical analysis (indicators, Fibonacci, etc...) to value investing. Throughout his journey, he develops an interest in price action with chart pattern trading.

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