Awesome Long-Term Reversal Trade On EUR/GBP

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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.

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

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