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
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
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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.
Want more chart ups like this? Click the links below:
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
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.