GBPUSD is in a very high value aea right now. It is now at the top ascending channel structure in high TF after a impulsive move to the downside
Nevertheless, with we must pay attention to how the price approaching this area with corrective approach. Because of that, I cant take any trade here blindly.
We need first to wait for a little bit of confirmation before executing any trade. One thing for sure is I will only look for sell setup in this area. All we need now is an impulsive rejection from this area to the downside, continued by a break of bearish continuation structure (ie: bearish flag, rising wedge, pennant, etc).
In this area, if I get this bearish continuation structure, any break from this continuation patttern even on small 15m TF will do and will trigger my short sell entry with sl above the continuation structure.
Good Luck..
Nevertheless, with we must pay attention to how the price approaching this area with corrective approach. Because of that, I cant take any trade here blindly.
We need first to wait for a little bit of confirmation before executing any trade. One thing for sure is I will only look for sell setup in this area. All we need now is an impulsive rejection from this area to the downside, continued by a break of bearish continuation structure (ie: bearish flag, rising wedge, pennant, etc).
In this area, if I get this bearish continuation structure, any break from this continuation patttern even on small 15m TF will do and will trigger my short sell entry with sl above the continuation structure.
Good Luck..
Trade attivo:
Active now after break of small bearish flag on 15 TF with sl at 1.33000
Commento:
Update : SL have been moved to bep at 1.33550
Commento:
I add 1 more sell entry at the break of small rising wedge pattern in H1 tf right now with sl above the structure at 1.33450
Commento:
Update : Now Running +2% ++. Both entry Move to to 1.32100. Lets see if the price can keep going further...
Commento:
Update : all entry Move SL to 1.31900, Locking 1 % profit... Lets see how far this will go :)
Trade chiuso manualmente:
Hit trailling sl at 1.31900. Total gain of almost 2 % from 2 trades. Lets see if there is reentry opportunity to present it self..