BullishTraderUk

GBPUSD Analysis - LONG - 40 pips

Long
FX:GBPUSD   British Pound / U.S. Dollar
This is my idea of buy/long to the TP area.
Trade active
Trade closed: target reached: Nice and easy.
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Comments

thanks man ...I followed your analysis on this one also ... and it paid ...✌✌✌
+2 Reply
@kimhle Nice one!, Your welcome ;-)
Reply
The first problem with this idea is that price has come from an impulse down and that has then correctively moved back up (i.e. trickled back up withiut any impulsive momentum), making continuation to the downside the most probable outcome. it's also worth noting that the big institutions whose momentum we need to ride to be consistently profitable don't typically trade on the 15 minute chart and to ride this momentum we ideally need to be analysing the same charts they are.

Always ask yourself what the nature of the market is, that is to say HOW did price approach somewhere. You'll see a vast improvement in your trading results than simply asking yourself WHERE price is. ✌🏻
+2 Reply
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