My analysis on GBP USD.
To consider this a good entry there are certain criteria to follow:
1. Clean BoS with IMB.
2. * Look for areas where liquidity has been purged.
3. * Stochastic: in uptrend 0-15, in downtrend 85-100.
( * ) = Not optional but increases our probability.
I use Fibonacci to get these extreme points and my preferred one is 75% retracement, with a risk-reward of 1:3.
Set and forget.
Trade carefully,
This is not financial advice, DYOR.
To consider this a good entry there are certain criteria to follow:
1. Clean BoS with IMB.
2. * Look for areas where liquidity has been purged.
3. * Stochastic: in uptrend 0-15, in downtrend 85-100.
( * ) = Not optional but increases our probability.
I use Fibonacci to get these extreme points and my preferred one is 75% retracement, with a risk-reward of 1:3.
Set and forget.
Trade carefully,
This is not financial advice, DYOR.
Trade closed: stop reached