At this point this is not a trade, it is an expected market movement. This is also my first published idea so I am still working out the proper presentation format.
All trade expectations incorporate multiple time frame analysis. In this case the green lines represent projected levels from m15. 138.7 is the minimum where market conditions will be evaluated for a long position. 137.9 is the ideal price for the same evaluation process.
The red lines are retracement levels from h4 and potential targets for long.
Trade execution will occur IF a specific set of rules are met between the green lines. The lower dashed gray line is the general stop-loss level while the middle dashed gray line will be used for position management.
All trade expectations incorporate multiple time frame analysis. In this case the green lines represent projected levels from m15. 138.7 is the minimum where market conditions will be evaluated for a long position. 137.9 is the ideal price for the same evaluation process.
The red lines are retracement levels from h4 and potential targets for long.
Trade execution will occur IF a specific set of rules are met between the green lines. The lower dashed gray line is the general stop-loss level while the middle dashed gray line will be used for position management.
Order cancelled:
This idea will get scratched as is, given the gap down all the way into the general stop loss level. At this point gbpusd is reacting slightly with a 5m setup. While large time frame bullish harmonic patterns are still in play on h4, d1, I will wait for a valid setup on m15/h1 to update this trade.
The next expected market movement is down with a reaction here and an ideal setup at the red lines. Will update the short as a new idea.