GBPUSD SHORT!

GBPUSD SHORT

Why are we entering?
- Expecting GBP weakness and USD strength
- Price is retesting our structure level & 0.618 fibonacci level

What are we waiting for to happen?
- Break of ascending WFB trendline & 4HR EMA
- Rejection of structure & 0.618 fibonacci level

Entry
SAFE Entry: Break of WFB trendline with rejection from structure zone & 0.618 fibonacci level
Risk Entry 1: Rejection from structure zone & 0.618 fibonacci level
Risk Entry 2: Early break of ascending WFB trendline or 4HR EMA retest

What is our confirmation?
- Break of WFB & EMA & rejection from our zone

Once entered, where will our Stoploss be?
- Above the structure level (above 1.235) 30 pips
- Move SL to BE after running 30 pips

Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
- Final TP - Lower structure level / Point B: 1.195 (370pips)

We will be looking to buy at point B