GBPUSD 8.3:1 Short
Updated
Price is in a downtrend on the daily chart.
Price is in a uptrend on the 1h chart.
There is a daily and weekly demand zone @ 1.28718 that I expect price to move down to before making a new HH on the daily.
There is a big inefficiency left by the candle at 7:00 on 16th October.
Entry is the supply zone 1 candle before and TP is a new LL on the daily chart.
Price is in a uptrend on the 1h chart.
There is a daily and weekly demand zone @ 1.28718 that I expect price to move down to before making a new HH on the daily.
There is a big inefficiency left by the candle at 7:00 on 16th October.
Entry is the supply zone 1 candle before and TP is a new LL on the daily chart.
Trade active
Price has pushed up into 1h entry zone activating this trade.
If first entry stops I have one more on the 10m chart using the 17:00 candle on the 15th October.
Note
Price has closed below the 1h CHOC level which means I will now treat this market as a down trending market reinforcing the idea behind this trade that a new LL will be created on the higher timeframes.Trade closed manually
Closed manually for a 7.88:1 return as I don't want to carry this trade into another day.
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