GBPUSD Buy
Updated
So inside a single day what I look for is Asian Range
https://www.tradingview.com/x/P3XeBHmS/
Wait for a break out of the Asian Range and get a clear 5/15min W or M within first 1hr -1hr 30min of London opening (at a level - low/high of previous day or week or H4 level)
The break OUT of the Asian Range could be 10-40pips even 50pips ...but I'm interested in the reversal which will surely go back to the top of that range and typically go beyond
https://www.tradingview.com/x/IcX3ljXp/
Here you can see I've added 3 levels below current price ...potentially it could break out of the range, go there and reverse with a clear W. This W will bring a rise that will potentially give us an A ...which will set us up for a nice W tomorrow or next
So I have
Identified the Setup and levels
Predicted what it may do next ...if it does then I will
Decide what I will do (in this case buy) ...and then I will
Execute the trade
IPDE = Trading Correctly
https://www.tradingview.com/x/P3XeBHmS/
Wait for a break out of the Asian Range and get a clear 5/15min W or M within first 1hr -1hr 30min of London opening (at a level - low/high of previous day or week or H4 level)
The break OUT of the Asian Range could be 10-40pips even 50pips ...but I'm interested in the reversal which will surely go back to the top of that range and typically go beyond
https://www.tradingview.com/x/IcX3ljXp/
Here you can see I've added 3 levels below current price ...potentially it could break out of the range, go there and reverse with a clear W. This W will bring a rise that will potentially give us an A ...which will set us up for a nice W tomorrow or next
So I have
Identified the Setup and levels
Predicted what it may do next ...if it does then I will
Decide what I will do (in this case buy) ...and then I will
Execute the trade
IPDE = Trading Correctly
Note
Possible stop hunt ...down at1.3825-30 level if we can't stay above 1.3850 ...Another potential entry zone at 1.3825 with very tight stops
Trade active
Note
Yesterday had 2 early exists at low of Asian rangeBack at entry level with a possible stop hunt down to last weeks lows
Trade active
At high of Asian Range ...breakout above expected.Rejection? Secure bags
Note
Now approaching target at 1.3880 ...which is the high of yesterdayAn M formation at key levels above and and in NY should be moment to consider exit
Aim is to collecting 100pips (50 on both entries)
Trade closed manually
1.3867 safe closure
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