Daily candle on GBPUSD formed doji candle, followed by nice shooting star at previous S/R line, formed at mid-July, confirmed on mid-August and mid-September.
The September monthly candle suggests downwards movement. Price tends to go for confirmation to half of the previous bar's movement before continuing lower. That would mean 1.367, which occurred yesterday.
As always, check if there are any major fundamentals on either currency that could influence the outcome.
Stop Loss at 1.368 (+ account for asian session spread), Take Profit 1.342, alerts or appropriate partial TPs along the way. Expected trade duration cca 2 weeks. RRR 1:2
The September monthly candle suggests downwards movement. Price tends to go for confirmation to half of the previous bar's movement before continuing lower. That would mean 1.367, which occurred yesterday.
As always, check if there are any major fundamentals on either currency that could influence the outcome.
Stop Loss at 1.368 (+ account for asian session spread), Take Profit 1.342, alerts or appropriate partial TPs along the way. Expected trade duration cca 2 weeks. RRR 1:2
Trade closed: stop reached:
Stop Loss hit. Onto the next one