GBPUSD is retesting the LP for the 3rd time now. This doesn't mean we couldn't see a wash and rinse. For now my bias holds we will see either a move up off the LP or a wash and rinse lower to break the previous two lows before a spring up -- those are two common plays in these current conditions. 5:1 R/R potential on this trade.
-Always use a stop
-Trade only with money you can afford to lose
-Be open to multiple scenarios
-It's okay to be wrong about anything
-Always use a stop
-Trade only with money you can afford to lose
-Be open to multiple scenarios
-It's okay to be wrong about anything
Note
Excellent confirmation -- market reversed off the LP seamlessly. Targeting 1.282 and 1.30
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.