Trade Of The Day

Trade of The Day: Awesome Long Term Reversal Trade on EUR/GBP

January 16, 2020 | 7:53 am | Trading Room > Trade Of The Day
January 16, 2020 | 7:53 am
Trading Room > Trade Of The Day
Trade of The Day Awesome Long Term Reversal Trade on EUR_GBP

EUR/GBP: 280 Pips Profit in One Month.

Trade of The Day Long Term Reversal Trade

Cheng.P. from the United States is currently trading in our 40K evaluation program.
Cheng.P. testify himself as a long term trader.
He has 4 years of trading experience in the Forex market and the stock market.

Here is a short description of his trading strategy and his trading method:
Cheng.P trading method based on Systematic Multi-Strategy based on seasonality effects cross-sectional momentum and statistical reversals.

Open Position
On 13/12/2019 he opens a buy position on EUR/GBP and he held this position for one month.
It also seems that he open buy position while the price was in bearish momentum, so it seems like a reversal trade.
He opens this buy position after a significant drop in the price.
You really need a good reason to buy while the price dropping down fast, it seems his reason was a support zone.
During all this time he held the position the price had many technical corrections,
Holding this position during these corrections for an entire month definitely required patience and tones of discipline.
The Max DD for this position was only 26 pips which indicates a very accurate entry-level.

Trade of The Day: Awesome Long Term Reversal Trade on EUR/GBP

 

 

 

Close Position
Cheng.P. close this position on 14/01/2020 with a 280 pips profit.
Compare to the Max DD this position suffered from, it seems like a great Risk-Reward ratio for this position.
Holding position for one month definitely required patience and discipline from a long term forex trader.
Definitely wise decision to close a buy position when the price reaches significant resistance.
So far, the exit level seems very accurate since the price really got blocked at that resistance level.

Currency: EUR/GBP

Position: Long

Profit: 280.6 pips

DrawDown: 26.5 pips

From Peak Potential: 12 pips

Duration: 30D 8H 59M

The 5%ers’ Score: 1104.20

Well done to Cheng.P. for his perseverance.
We encourage traders, and we look forward to bringing you some more trader insights and success stories.

Supply & Demand Order flow week ahead analysis live session.  Weekly Supply & Demand Forex Analysis | January 13, 2020 video

 

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