Hey guys,
here you can see the hourly chart of GBPUSD: i'm in here because of my higher timeframe analysis that allows me to highlight a structure area (yellow box) from the daily timeframe. When price touches such zones it usually reacts, giving us an edge to exploit the market. In this case you can see price has formed a double top followed by a break of structure to the downside, meaning bears are taking control. With a 618 retracement it's good to sell, with stops above highs and targets as shown above.
Trade safe, always.
If you have questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
here you can see the hourly chart of GBPUSD: i'm in here because of my higher timeframe analysis that allows me to highlight a structure area (yellow box) from the daily timeframe. When price touches such zones it usually reacts, giving us an edge to exploit the market. In this case you can see price has formed a double top followed by a break of structure to the downside, meaning bears are taking control. With a 618 retracement it's good to sell, with stops above highs and targets as shown above.
Trade safe, always.
If you have questions or ideas to share, feel free to comment below.
Otherwise, see you in the next chart!
Trade active:
Trade closed: target reached:
First target hit! Stops moved to breakeven:
Trade closed: target reached:
Second target hit!
