Marking up GBPUSD for buy opportunity this morning during London's session. I marked up the consolidation of Asia's session for highs and lows in structure.
I then marked the manipulation period where there was a large downtrend (selling)
It broke the last low from the day before so I thought I'd pay close attention to what would follow.
I opened up the DXY which was moving in the opposite direction (as expected) and on the 1 minute time frame (John hates me for this lol) after it hit that lower low, it started to come up around 8:20am (UK time)
Now I know to WAIT for the 15 min timeframe to give me indication to enter for a BUY once this bullish candle appears
PARAMETERS
If this happens, i'm expecting it to break out past Asia's higher high and meet the last higher high a few pips above Asia's consolidation. This marks my TP, 55 pips above entry
My SL is set 35 pips below potential entry
I then marked the manipulation period where there was a large downtrend (selling)
It broke the last low from the day before so I thought I'd pay close attention to what would follow.
I opened up the DXY which was moving in the opposite direction (as expected) and on the 1 minute time frame (John hates me for this lol) after it hit that lower low, it started to come up around 8:20am (UK time)
Now I know to WAIT for the 15 min timeframe to give me indication to enter for a BUY once this bullish candle appears
PARAMETERS
If this happens, i'm expecting it to break out past Asia's higher high and meet the last higher high a few pips above Asia's consolidation. This marks my TP, 55 pips above entry
My SL is set 35 pips below potential entry
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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.