Jaxpx

GBPUSD LONG IDEA (Bullish Cypher)

Long
FX:GBPUSD   British Pound / U.S. Dollar
Looking to place a buy limit at 1.21381.
Trade closed manually: Buy limit order opened and closed manually at 1.21530 in 15 pips profit.
Comment: (Journal) Small profits bagged but, due to not paying attention to the overall trend on the larger frame. I believe this is a major pitfall for many traders, I'm glad I'm keeping a journal of all the ideas I post because man if I didn't write down where and why I went wrong, my trading career would be finishedddd. 😂

Obviously 15 pips is better than 0 pips so I'm grateful, but by zooming out I can see NO:
-Shift in Momentum.
-Potential Reversal.
-Strong Bullish Impulse moves.

Therefore, price is still looking weak & it's difficult to "predict" or make a "calculated decision" in a ranging environment. Just gotta wait for that breakout on the 4H+ and make a trade accordingly.

Comments

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