GBPUSD, 2023-02-27
1h POI Entry at descending support line
-- This is a riskier trade because of the possible effects of current News, but when is that not the case.
-- 2nd Order Position defines my 2R Breakeven point to move my stop.
Notes on the CBO:
-- Skipped the CBO.
-- The approach to the CBO was concerning. It traded nearly to line (prior to News) then consolidated (clearer on LTF) for a bit.
-- This is a riskier trade because of the possible effects of current News, but when is that not the case.
-- 2nd Order Position defines my 2R Breakeven point to move my stop.
Notes on the CBO:
-- Skipped the CBO.
-- The approach to the CBO was concerning. It traded nearly to line (prior to News) then consolidated (clearer on LTF) for a bit.
Trade closed: stop reached
After being saved by 1 pip, it churned around a bit to finally tag me out at my stop.
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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.