Hey, traders. Here on the GBPUSD, we have a great example of a CTS type of trade. This market is at a previous HTF level of structure. It has also gone overbought on the RSI on higher time frames. Now, that alone is not enough reason for me personally to enter a trade, but taking it down to an hourly chart, here we have a nice double top. This double top looks great but I still needed to see one more thing for entry.. Divergence. This double top is accompanied by RSI divergence. All of this combines to make a good possible trade. It is very important to remember that we have to incorporate many things into a trade, not just one entry reason, or the fact that the market is at resistance/support. In order to have optimal results as a technical trader, we must incorporate conditions along with entry reasons to create a successful strategy. Hope this was helpful. I do private ideas for FREE each week to everyone who is signed up for the email list at The Trading Channel. There is a link below to sign up for FREE.
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