GBPUSD fractal play

Looks like a correctional move the past days. When looking back a bit, we can see similar moves the past months. So for me this is worth the risk. I will close around 30% at the first yellow circel, will close 40% around the target and i will let the other 30% run with a tight stop.


Previous analysis:

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I am waiting a bit with the entry btw, i will post an update

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I am getting in now

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In hindsight, i should have been a bit more patient with this one, because i would have prob not ven get in to it otherwise. It broke the bear flag on the upside and usually it becomes a false breakout but not always. The yellow circle (support/bounce) was a first sign but a break of that red zone is normally a (small) buy signal, but it was already very close to the stop i had so i simply let it run.

I thought i had seen a pattern (the fractal), but it seems the normal TA would have been the better choice this time. Also because of that yellow highlighted daily candle on the right, made me choose for the bearish version.

Well, loosing trades is part of the game and will never go away, as long as we make an effort to learn from the bad trades so they become less as time passes.