meister_keith
Short

GU potential weekly move

OANDA:GBPUSD   British Pound / U.S. Dollar
Last week, GU broke a major demand zone and we are going to see this zone get a retest. I've analyzed this move with extra confluences.
My entry level lines up with: The weekly zone, 50% fib, trend line touches,14 EMA on the daily and M30 retest on the lower time frame.
Nothing is ever written in stone while trading, if i'm stopped out, I've marked the next best resistance level to watch out for.
Trade closed: stop reached: Got stopped out, i think it's because i called tops and didn't get a proper confirmation.
When H1 rejected the H1 supply zone i thought price would push down or consolidate but i didn't consider the GBP strength at the moment that i was selling.

Note for the next sell attempt:
Wait for a clean rejection before taking a sell. I'll be eyeing 1.3030
yes exactly i take sell entry from 1.333 lets see now where it goes
Reply
meister_keith muzzamilsana
@muzzamilsana, I'm going to wait for 2 H4 confirms just in case i'm wrong. GU has a tendency of wicking me out of my trades. Good luck
Reply
muzzamilsana meister_keith
@meister_keith, you are right
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