Potential Long Opportunity on Cable
Based on my past experience in the market, the price action algorithm has given us a potential long opportunity for GBPUSD.
When price begins to reach into my POI at this area, I will be watching price action for signs of exhaustion and absorption.
If I see the type of price action discrepancies that I like to see before entering a setup, I will be pulling the trigger on this move here for a low risk, high reward setup of over 1:10.
I do my best to keep all my setups beyond 1:10 so I can ensure myself as many opportunities to profit as possible.
A high reward typically trumps a high accuracy in the long run.
Never risk more than what you can stomach losing on any one trade. The game is based on capital preservation 1st and risk management 2nd. Trade wisely.
When price begins to reach into my POI at this area, I will be watching price action for signs of exhaustion and absorption.
If I see the type of price action discrepancies that I like to see before entering a setup, I will be pulling the trigger on this move here for a low risk, high reward setup of over 1:10.
I do my best to keep all my setups beyond 1:10 so I can ensure myself as many opportunities to profit as possible.
A high reward typically trumps a high accuracy in the long run.
Never risk more than what you can stomach losing on any one trade. The game is based on capital preservation 1st and risk management 2nd. Trade wisely.
Seeking mentorship?
Join The Hyena Hut and learn exactly how I approach the charts. Contact me on Instagram if you have any questions :)
Join The Hyena Hut and learn exactly how I approach the charts. Contact me on Instagram if you have any questions :)