Long Eurusd Great British Pound vs. US DollarFX:GBPUSDmrtajdini1628 📊 Signal Type: Buy (Long) on Pullback --- Entry Conditions: · Main Entry: Enter the trade at the 50% Fibonacci retracement level (the exact zone where the price pulled back to after breaking above it). · Aggressive Entry: Enter immediately upon seeing a confirming candlestick pattern at this level (e.g., Pin Bar, Bullish Engulfing, or Marubozu). · Conservative Entry: Wait for the candle to close above the high of the pullback candle (or above the 61.8% Fib level) for extra confirmation before entering. --- Stop Loss (Risk Management): · Place your Stop Loss just below the most recent broken low (the bottom of the correction). Set it about 5–10 pips or below the lower wick of that low to avoid being stopped out by noise. --- Take Profit Targets (TP): · TP1 (First Target): Measure the initial upward move (the distance from the previous low to the broken high). Add this distance to the breakout high. Formula: Breakout High + (Breakout High – Previous Low) · TP2 (Second Target): The 127.2% or 161.8% Fibonacci Extension of that same initial upward move (this is the typical next destination in this pattern). --- ✅ Confirmation Filters (Must-Check Before Entry): 1. Volume: The bullish candle that broke above the 50% level must show a significant increase in trading volume (indicating strong buyer conviction). 2. Momentum: Oscillators like RSI should not show bearish divergence. Ideally, the RSI should be holding above the 50 level. 3. Higher Timeframe (HTF) Trend: The overall trend on the higher timeframe must be bullish (uptrend). This ensures your trade aligns with the dominant market flow. --- ⚠️ Risk-to-Reward & Position Management: · This setup offers a minimum Risk-to-Reward ratio of at least 1:2. · Scaling out: Close 50% of your position at TP1. Immediately move your Stop Loss to breakeven (your entry price) for the remaining position. · This allows you to ride the rest of the trade toward TP2 with zero risk, ensuring a stress-free hold. --- Summary of the Logic: Price broke the previous high, faked out the recent low during correction, reclaimed the 50% Fib, and is now pulling back to it. This is a classic "Stop Hunt + 50% Retest" reversal setup. Go Long!