Bearish on GBPUSD. Could either be the high of the week or manipulation of AR. London may have just created the low of the day which could push price higher. Monitoring price action @ 1.21070 for entry. Either getting a sell entry or im sitting on it.(paper trading rest of week)
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Didn't really want to see it take AR low before the test of my entry point, but if price wants to move away from 1.21070 IF it even gets back up there then I will execute.
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buying here incase this is the LOD
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In off the retest of this 1m OB
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Planning to take 50% partials at the halfway point to tp.
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partials secured. stops below this marabozu candle. now it doesn't even matter what GU does the rest of the day. Happy Thanksgiving again.
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Lowering TP to 1.21000.Note
stops placed perfectly.
Trade closed manually
Closing here. not a fan of the bearish engulfing off the high. 20+ pips caught. This trade is big for me being that I would've normally stuck with my bearish bias and just would not have executed if it showed signs to buy at 1.21070, but price was trading well below midnight opening price(discount) we had already took buyside of AR, came and took sellside of AR, to me the next target would be AR high, but price held res at the EQL of AR leading to my decision to close.
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As you can see closing there saved me from giving back 9 pips although 75% of the position was collapsed by the time i closed.
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Original trade idea still valid could see another push up into the sell entry at 1.21070. (just watching)
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lol.
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may just range out for the day. I dont think NY sesh will do much considering the holiday.Note
now will see a move down?
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Finishing the week there entirely. Time to go study, recap this weeks trades and prepare to kill the game next week.
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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.