GBPUSD Week 29 Swing Zones
Aktualisiert
Pinched +25 pips in Week 28.
Looking back, we can see where price broke a swing zone but failed to continue, retracing back for what was suppose to be a huge swing to the down side.
Lessons learnt, new week new zones set.
Looking back, we can see where price broke a swing zone but failed to continue, retracing back for what was suppose to be a huge swing to the down side.
Lessons learnt, new week new zones set.
Anmerkung
We see a nice bounce on the 5 mins chart, however no trade taken. Spreads are usually wide at this time of the day.Price breaking past support zone
Anmerkung
We see a repeat of last week's pattern. Where price broke a zone, and didnt reach calculated level before reversing.Now calculated level slightly above zone for a move down.
Entry@772
SL@ -10pips
Anmerkung
Move SL to 835.Momentum strategy requires fast bounce from level before some consolidation (typically 20pips)
Trade geschlossen: Stop wurde erreicht
SL hit for -7pips loss.Price forming a double top @905
Awaiting the next zone for a buysetup
Anmerkung
Excepting price to drop further, for a buy setup at support zoneAnmerkung
Price failed to reach calculated level for up surge.No FOMO here.
Looking for Sell setup
Anmerkung
Keeping an eye on 556 area for sell setupAnmerkung
Entry 902 SL -10pips
Aiming for 556 as initially planned
Anmerkung
Low momentum on trade.Tight stops @844
Anmerkung
SL hit @844 for -6pips.Reentry @872 for fast move up (+20pips)
Anmerkung
Tight stops @819 due to slow momentumAnmerkung
Back to Zone.Tight stop.
Reentry @703
Anmerkung
Tight stops @692Price pinched +10pips and retraced.
Momentum slowing down
Anmerkung
2 weeks in a row, price missed our swing zone by +10pips(red box).Buy trades where to see if price could retrace to zone before move down.
However, we can see TPs of +80 pips in the predicted direction.
By keeping losses small, 1 good week trade will erode all losses
4 trades: -7/-6/-6-2 for -21pips
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