GBPUSD SHORT H1/M5
Updated
1. H1-SZ has been mitigated, the zone was too large and way out of my risk parameters to take. So I'm looking for an entry on the M5 if the pullback is strong enough.
Looks like there is a lot of moment so it may not get filled.
2. We are now into the premium of the range on the H1 so this would be an ideal place for shorts
3. Always targeting the weak low for my swings. If the swing low/high is below my hard TP which is 5:1 i won't take the trade.
What could go wrong?
-We are currently in the discount range on the daily so the market could potentially push to the upside creating new daily demand without mitigating any daily demand below.
Looks like there is a lot of moment so it may not get filled.
2. We are now into the premium of the range on the H1 so this would be an ideal place for shorts
3. Always targeting the weak low for my swings. If the swing low/high is below my hard TP which is 5:1 i won't take the trade.
What could go wrong?
-We are currently in the discount range on the daily so the market could potentially push to the upside creating new daily demand without mitigating any daily demand below.
Trade closed manually
I have cancelled my limit order as PMI data just smashed the market through the low....hahaha
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