Bearish on GBPUSD expecting it to chase buyside first. Annotation on chart, no live trades on market, PNL just to show where I think the probabilities lie at the moment.
Trade active:
Initial reaction favorable. my expectation is that price will seek to close the range between 12AM and 8AM opens to fill the sellside inefficiency. SL is at BE.
Initial reaction favorable. my expectation is that price will seek to close the range between 12AM and 8AM opens to fill the sellside inefficiency. SL is at BE.
Trade active:
Trade continues to develop favorably, TP2 has been moved to a more conservative .05 bearish extension of the open range.
Trade continues to develop favorably, TP2 has been moved to a more conservative .05 bearish extension of the open range.
Comment:
Closed TP1 at bottom of hourly FVG as I did not want to give anything back to the market. 20% of initial volume left till lower target. Really loved the delivery on this one.
Closed TP1 at bottom of hourly FVG as I did not want to give anything back to the market. 20% of initial volume left till lower target. Really loved the delivery on this one.
Comment:
TP1 selection level was ideal as the reaction was a significant retracement
outlook for the day remains bearish.
Trade closed: target reached:
Had to hold this for a while but final TP hit, price kept falling. Happy with my piece of the pie.
Had to hold this for a while but final TP hit, price kept falling. Happy with my piece of the pie.
Let the algo show you its hand.
Short on GU