Hello Traders, i hope you all have had a wonderful weekend and first 2 days of trading. Me personally, yesterday wasnt too hot but thats OK, because we are here for a long time not a short time. Anyways, enough of my ranting, lets get into this idea.
Yesterday, we observed that GBPUSD was on a mission to push up up up, making it apparent that we are in an extended uptrend. More than likely, price is going to come back up since the up trend has already been established. On top of this, price tends to go opposite directions when we enter a new session, not always the case, but very common for this to happen.
Observing the lower time frames, we see on the 15M chart that price has made a very interesting inverted hammer, pay attention and wait for the right entry.
Be sure to exercise patience and use reasonable stop losses. Remember, we are trying to control our losses, let the profits ride until you are comfortable (and within reason of course)
PRECISION ,PATIENCE, AND POWER
Yesterday, we observed that GBPUSD was on a mission to push up up up, making it apparent that we are in an extended uptrend. More than likely, price is going to come back up since the up trend has already been established. On top of this, price tends to go opposite directions when we enter a new session, not always the case, but very common for this to happen.
Observing the lower time frames, we see on the 15M chart that price has made a very interesting inverted hammer, pay attention and wait for the right entry.
Be sure to exercise patience and use reasonable stop losses. Remember, we are trying to control our losses, let the profits ride until you are comfortable (and within reason of course)
PRECISION ,PATIENCE, AND POWER