GBP USD SCALP

Currently at supply area
Volume suggests heavy supply coming in
Market should go down to Demand area

AGAINST MAJOR TREND so quite risky

Note

Come to think of it, I think the 4 Hour upwards fibonacci will be retested around 1.2968

If this idea is valid, i will put my stoploss to break even once the demand area is reached and let the trade run
If prices reached above 1.3047, i will cut the loss short

Note

Bullish pennant just formed which is bad for our trade
But since i dont trade chart patterns, i will leave the trade be

Note

I was stopped out before my target was reached

E7i

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.

E7i