1. Trade Setup Pair: GBP/USD Timeframe: 15-minute Strategy: Buy Limit Order Indicator Used: EMA 21
2. Market Structure & Analysis The price is in an uptrend, forming higher highs and higher lows. You’ve identified a key support zone (previous resistance now turned support). Price has broken above resistance, and you're expecting a pullback to retest the zone before continuation.
3. Entry & Execution Buy Limit Order: Placed at the gray zone, which aligns with a support level. Confirmation: Price must reject this level before continuing upward.
4. Stop Loss & Take Profit Stop Loss: Placed below the support level to minimize risk if the trade fails. Take Profit: Positioned at the next resistance level (upper green target zone), aiming for a high reward-to-risk ratio.
5. Trade Psychology & Logic You're executing a pullback entry instead of chasing price at highs. Institutional traders often push price down to collect liquidity before the next move. EMA 21 is used for tren confirmation.
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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.