Facts : - GBPUSD has been in a nice uptrend for the last ~30 days, on the daily chart it's currently finding support on the trendline. - Price has been forming higher high and lower low since yesterday. - Market seems exhausted which seems confirmed by the stochastic
Expectations : - Price about to retrace toward this "daily trendline" not further than the support area. - Price will find support on the trendline - Price will shoot back up and form a Higher high
Entry : - Looking for an entry on the swing low not sure where exactly right now, TBC.
Exits : - will depend on my entry, I will update this idea once I have a clearer view of what's gonna happen.
Trade active
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trade placed manually after seeing Retail Sales m/m results
Comment
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bought at 1.32350
Trade closed: stop reached
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Wasn't feeling confortable with this trade, decided to move my stop loss to break even. it was hit a couple hours after that