The 1h chart is in a down trend with new LLs being formed.
The trade is more of a "risky" trade as I am expecting price to pull up to the 10m entry zone above and explained in a previous post.
Why am I taking this trade if it is "risky"?
If this trade does lose then the second entry that I have talked about previously is now almost a 10:1 trade and so will cover the loss.
GBPUSD is in quite an aggressive downtrend on the higher timeframes and so I view the risk to reward as favourable.
The entry is at the 1h down trend extreme.
The trade is more of a "risky" trade as I am expecting price to pull up to the 10m entry zone above and explained in a previous post.
Why am I taking this trade if it is "risky"?
If this trade does lose then the second entry that I have talked about previously is now almost a 10:1 trade and so will cover the loss.
GBPUSD is in quite an aggressive downtrend on the higher timeframes and so I view the risk to reward as favourable.
The entry is at the 1h down trend extreme.
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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.
Related publications
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.