GBPUSD expectation of strength before a strong sell off
Idea: Testing retracement expectation and strength. Expecting price to reach maximum levels before selling off.
Pros: Price is expected to become extremely unpredictable during the next sessions giving an opportunity for excellent p&l if the levels are high enough.
Cons: Its the UK election and price hysteria can exceed all expectation.
DISCLAIMER:
Please note I am only providing my own trading information for insight to my trading techniques,
you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
Pros: Price is expected to become extremely unpredictable during the next sessions giving an opportunity for excellent p&l if the levels are high enough.
Cons: Its the UK election and price hysteria can exceed all expectation.
DISCLAIMER:
Please note I am only providing my own trading information for insight to my trading techniques,
you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
Comment:
Trade SL survived the retrace to 1.28137 before a further selloff. Profit to be taken at the next 1hr os.
Trade closed: target reached:
Reversal long entered 1.27