Key Levels at 2pm – EURUSD, GBPUSD
Forex Key Levels for EURUSD and GBPUSD at 14:00 CET on the H1 chart
Note: Economic news could have an impact on your trading result. Check the news calendar before you open a trade. The trade signal is always related to the sell value of the currency pair.
Summary:
The Key Levels trade signal contains possible entry points for SELL and BUY trades for the currency pairs EURUSD and GBPUSD.
The key levels for the day are valid from 2 pm.
As long as the defined entry point is reached you can enter the market and open a SELL or a BUY trade.
The recommended target profit of 20 to 30 pip is reached in most cases very fast, but sometimes it can take also longer, e.g. 2 hours. The average length of the trade is dependent on the speed of market movement or volatility.
Stop Loss (min and max exit)
It is very important that you enter the Stop Loss immediately after you have opened the trade. This will reduce your losses, if the trade goes in the wrong direction. Adjust some pips based on the actual market condition.
Three target profits for successive profits
Target 1 to 3 defines a guideance for your profit and trailling stop handling.
Target1 should be reached in general much faster than Target2. Therefore you have a smaller profit. Sometimes the rate will return at the Target1 and will go into the other direction.
On the other hand the rate goes more over the Target2 and higher profits are possible. This is certainly dependent on the market condition. You can define your own target profit e.g. at 20 or 30 pips or stick to the values of the trade signal.
You can use the target1 to set the Stop Loss to break even, i.e. the rate you entered the trade. In worst you don’t suffer any loses if the trade returns, you end up with +/- 0.
If you enter one trade than the other one is not valid any longer. The key levels should only be considered mainly in the afternoon.
For your trading success.
