11R long swing trade on GBPUSD from macro OB/Demand Zone (SMC)
Updated
Testing my Smart Money Concepts Swing Trading Strategy 1 of 4.
using New York Killzone reversal as entry from 4h order block/demand zone.
using New York Killzone reversal as entry from 4h order block/demand zone.
Note
Update: Friday evening, price action stagnant.increasing stop to 41 pips to avoid New Week Opening Gap.
Closing 31% of position.
Note
Moved stop down slightly further to accommodate potential Monday sweep of high volume node and daily level, deeper into the 4h demand zone.Weekly candle close not ideal but setup is still met. Will tweak strategy depending on whether lackluster weekly close influences success of strategy 1 of 4 or not.
As it stands, trade is ~6R but more size can be added and stop tightened after a bullish Monday.
Note
Update: went more than 50% to target (206 pips!) but did not break previous 4H high forming a swing failure pattern and weak low. This is why you always take partials.
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