We require price to retrace to the key level noted on the chart before continuing the upward movement during the London and New York sessions . But on the other hand it's a good idea to remember this is a game of probability.
It's all a game of technical analysis, fundamental analysis, psychology and sentimental analysis. Took sniper trades based on retracement using my fibonacci retracement tool.
Analysis for entries on this trade was 1. Found the Market structure to be bullish 2. Allowed the break and entered the trade at its retested psych level range. 3. The second entry was done using the fibonacci retracement, was highly patient enough for price to hit the buy limit at 0.50 zone and price went bullish again. 4. The currency strength was the key to...
Take profit was targeted for previous missed entry.... CPI index for gbp seem too high for the week obviously, high probability the central bank lower interest rate.
Technical capabilities have rendered their view, We'll allow the fundamentals to play their card on before London session to achieve the downward moves, if all fails, we'll be expecting price to create an higher high level of resistance. Keep in mind to check in for obvious support in cases of market unpredictable conditions. Have a profitable month!