Forex Trading Strategy: EUR/USD as a Begining Signal to Trade The GBP/USD in Forex Markets

As I describe before on my previous post about my forex trading system we use the simple and user friendly indicator. I decide to use this trading system because too much indicator just makes me confuse and sometimes distract me filtering the valid signal to determine my entry point.

As a continuation of my previous post, I would like to show you how to makes profit in GBP/USD Trading basically with the system. The system that I hope working for you to take profits in this business.

Okay, as I consider you comprehend about my simple trading system, on this post I would like to show you one more "trusted advisor" whenever you decided to take the long or short position on GBP/USD trading. The trusted one is the EUR/USD movement. I started to consider the EUR/USD price movement as a trusted resource on every trading position that I would take because the EUR/USD movement is linear with the GBP/USD and any other direct (EUR/USD~GBP/USD~AUD/USD~NZD/USD) pairs.

If the EUR/USD indicates that it's price hikes we take the LONG position on GBP/USD, and vice versa. See the picture below:


Basically with the EUR/USD Movement we could take it as an additional information whether the GBP/USD going up or down. Take the Long position or Short position when our trading system indicates the BUY/SELL signal. See the picture below:


In my opinion this method working with any other pairs. In normally trading condition we could take minimum +20 pips as a target profit with the -50 pips as a Stop Loss, even more than 80 pips during the high impact fundamental news decision.
Remember, there is no perfect system in forex trading. So you have to be careful in every trading position that you take. Always makes yourself update with the Economic Calendar News, the fundamental news is essential as our resource and consideration in position taking...