Just a little update on this mornings analysis I closed out 50% of my position around 1:1 ahead of US data at 13:30 and rolled my stops to breakeven. We managed to survive with little to no reaction which is always fun and now we are approaching 1:2.
Another double bottom being traded on GBPUSD. Good wick rejections around this key level. I am a bit concerned about USD data coming at 13:30 (UK) so hopefully we can manage this trade to breakeven before that time comes.
H1 order block mitigation
Yesterdays analysis played out as expected however, I failed to be triggered into the trade. To be a good and consistent trader you must remain 100% transparent in your approach. It's easy to let emotions slip when trades are missed or when losses happen. We need to remember we play a game of probabilities and percentages. Was my analysis correct? Yes, it...
Potential double bottom which may kickstart this consolidation.
Momentum shifting to the downside. Seeing a good hold which is starting to reject from a previous structural low. Looking for continued bearish momentum.
Looking for a hold on this retest of consolidation for continued bullish momemntum.
Sell Limit has been set for the resistance hold. Levels have been provided. If you are going to use this analysis to put your own funds on be sure to use proper risk management and tailor it to your own trading plan. Do not risk more than normal as I could still be wrong.
Momentum starting to shift into the longer term bearish trend with this break lower on structure. Put this pair on your watchlist now! Will look perfect for entries this week and next week.
Beautiful break and retest in play. Eyes on the H1 for entries.
Switched bias, dollar being accumulated
Missed GBP long, another attempt with EUR one more stab up