Here's a trade I've taken on GBPUSD.
1) Clean BEARISH rejection from major key level.
2) Recent BEARISH candles are being met with indecision candles, which indicates to me that the market wants to reverse in the opposite direction.
3) There is no clear uptrend in this area, so I predict a push down to 1.28900, then we may be looking to either go bullish or be stuck in consolidation for a while.
We'll see how this one plays out!
1) Clean BEARISH rejection from major key level.
2) Recent BEARISH candles are being met with indecision candles, which indicates to me that the market wants to reverse in the opposite direction.
3) There is no clear uptrend in this area, so I predict a push down to 1.28900, then we may be looking to either go bullish or be stuck in consolidation for a while.
We'll see how this one plays out!
Trade closed: stop reached:
Unfortunately I got taken out of this trade for -53 pips (-1.08%) ❌❌
I entered the market too early; and the only way to compensate for this would of been to adjust my stop loss to allow for more breathing room.
Lesson learnt - we move.
I entered the market too early; and the only way to compensate for this would of been to adjust my stop loss to allow for more breathing room.
Lesson learnt - we move.
What a trade!