GBPUSD high probability entry setup in the next few hours.

There is possibility of a head and shoulders pattern forming, along with macd divergence, and a break in the uptrend, IF and only IF those three come true, we have a chance of entering the trade when price retests the neckline and starts moving down.
Only once that retest is complete and price starts it's journey to the downside will we even think about entering this trade.
Set a "crossing up" and a "crossing down" alert below the neckline to make monitoring this possible set up easier for you.
Remember not to over leverage any position no matter how "sure" you are.

Trade active

As I expected the, neckline has been breached, set a 'crossing down' alert at 1.3149.
That way you will only get alerted when the pullback is complete and you can enter to short when the alert is triggered,
Only and only once my alert has been triggered, will I even consider an entry.
My choice for a SL is 1.3185 and a potential first target is 1.30425. at which point I will close out of half the position then bring my stop to the breakeven level and then consider my second target to 1.2965
if price closes past the 20 ema after the trade is live and before it reaches the second target i exit my whole position.
Trade safe, manage risk well, use systems and keep emotions out of it.
Peace.

Trade closed: target reached

trade to be exited with profit at 1.30888

yashp1

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yashp1

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