We were waiting for a 1hour candle close below our level and we just got it. I expect a retracement before we drop off hard. Look at my previous trade idea post and this chart for more information.
Let me know your thoughts below.
Fellow traders,
As I discussed earlier in another trade idea I said I was waiting on a 1 hour candle close above the 1.30758 level. We got that, I would have wanted a stronger close above it, but nonetheless it still closed above the 1.30758 level. This confirms for me that price changed into an up trend. I am looking to enter with my bigger size buying...
We are in seasonality where the GBPUSD tends to go long. Besides that we are in a demand zone on the weekly timeframe.
I have entered prematurely with a little bit size of my position.
I will look for a entry after I have my final confirmation which happens when the 1 hour candle closes above the 1.30758 level.
