GBP/USD buy
Entry position 1.30751
Risk to reward 1/3
Stop Loss: 20 pips
Profit reward: 60pips
Lot size 0.05
Confluence
• GBP/USD Is still in an uptrend
• Have hit a 4hourly resistance
• Is consolidating more on the support area so could spike back to bullish at any point
• On the bullish pull before the consolidation range we are hitting the 61.80% – 78.60% retracement area so could still be waiting for the momentum to continue
• 4hourly we have still seen bullish higher lows and wicks are still respecting each other
Risks
• In a lower time frame down trend is picking up with lower highs and lower lows
• Dxy has broken resistance and is looking at retesting itself at its support levels
• Fib retracement on bearish pull down has hit 23.60% - 38.20% which could be an aggressive move which would be a break of structure leading into a new trend being formed
• Double headed top on resistance which could mean new trend being formed
depending on the move which will take place I can analysis my prediction on what is about to happen and take notes on if it did not go my way to be patient and view the risks, I knew could happen
other than that. I believe still have followed the trend I have used same lot size and am going for a push to the bullish side.
Entry position 1.30751
Risk to reward 1/3
Stop Loss: 20 pips
Profit reward: 60pips
Lot size 0.05
Confluence
• GBP/USD Is still in an uptrend
• Have hit a 4hourly resistance
• Is consolidating more on the support area so could spike back to bullish at any point
• On the bullish pull before the consolidation range we are hitting the 61.80% – 78.60% retracement area so could still be waiting for the momentum to continue
• 4hourly we have still seen bullish higher lows and wicks are still respecting each other
Risks
• In a lower time frame down trend is picking up with lower highs and lower lows
• Dxy has broken resistance and is looking at retesting itself at its support levels
• Fib retracement on bearish pull down has hit 23.60% - 38.20% which could be an aggressive move which would be a break of structure leading into a new trend being formed
• Double headed top on resistance which could mean new trend being formed
depending on the move which will take place I can analysis my prediction on what is about to happen and take notes on if it did not go my way to be patient and view the risks, I knew could happen
other than that. I believe still have followed the trend I have used same lot size and am going for a push to the bullish side.
Commento:
THIS IS A OLD TRADE I PUT ON YESTERDAY AND CASHED OUT TODAY I JUST UPLOADED IT LATER THAN I NORMALLY DO I like to show my losses as well just so people know that I aint always right but look at all my trades im 70%right and the 30% I aint right I would say 15% hit my stop loss and then went the way I said it was going to but again people we must find out the hard way some times