maxdnet

Setup for Trend Following on GBPUSD

Short
maxdnet Updated   
FOREXCOM:GBPUSD   British Pound / U.S. Dollar

Here is my idea.
I'm waiting this 1H candel to finish and check first 20 min of Next candle to see if there are prerequisities. If not i presume GBPUSD will go reversla into bullish, making a new 4h HH even if one leg is not enough to declare a trend, but thats my idea.

We are on 75% retrace of previous bearish leg and on a perfect round number plus a Supply Demand Zone.

Yet USA last week news are strong but after the enthusiasm of all the prices should go back to where they belong .

Lets see how it will go on.
Comment:


I closed 50% of my positions at the 50% retrace.
I dont like the 4h double top and that RSI Divergenze.

Still left 50% in but moved the stop Loss at the 50% of the Asian Session range.
Comment:
CLosed other 25% at 21.3 (end of the US news).

Left only 25%.

Fair happy with the trade tbh.
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