FX:GBPUSD   British Pound / U.S. Dollar
171 11 4
GU short
Just wanted to revisit this to give constructive input bud. The Wicks on the upside show major buying... which can be clearly seen here now I hope.

Agree with this!
+1 Reply
why? :)
Look at the price action of the candles. Bulls haven't established themselves for a bounce
DJC Gekko.uk
I see, but is that your only reason for that trade? 80 pip SL? 0_o
PA never lies
+1 Reply
DJC Gekko.uk
There is a huge amount of Large Spec buying on the previous grind down starting 23rd Sept. Right now I see we are sat on key levels with plenty of liquidity above us ready to swept by the fast and rapid decent during mid to end of September. I would be looking for a highly volatile month ahead of us, as October is Seasonally very volatile (36 year, 5yr, 10yr, 15yr etc). We do have larger significant levels below us like 1.50, which also sit on key fib levels. But I could not make your trade on Candle action alone for the trade you've chosen for such low RRR, 1.76. Anyway, good luck. I'll be waiting until Monday morning to see where price action takes us.

+1 Reply
You're overcomplicating it
DJC Gekko.uk
Well good luck with your trading on candle price action. If that's really your complete strategy.
+1 Reply
You must be either risking a lot % capital per trade or trading very small for 80 pip SL. Either way I increase my probability and find OTE optimal trade entries for 30 pip SL and RRR of 8 or more.
+1 Reply
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