GBPUSD - Failed effort to push up, coming back down once again
Woke up to see a huge spike in GBPUSD.
Using just pure volume analysis, I can see huge effort to push up, but price failed to close much higher than yesterday's high.
In my opinion, the path of least resistance is down towards the low of the daily channel.
I entered short.
EP: 1.3260 - 1.3265
SL: 1.3310
TP: 1.3050-1.3080
Using just pure volume analysis, I can see huge effort to push up, but price failed to close much higher than yesterday's high.
In my opinion, the path of least resistance is down towards the low of the daily channel.
I entered short.
EP: 1.3260 - 1.3265
SL: 1.3310
TP: 1.3050-1.3080
Trade closed: stop reached:
Got stopped out of this trade. -50 pips.
For the week, I had 2 losses and 1 breakeven trade. Total loss -90 pips after a crazy 1080 pips week.
Will prepare myself thoroughly for the next week.
Look out for my upcoming analysis.
For the week, I had 2 losses and 1 breakeven trade. Total loss -90 pips after a crazy 1080 pips week.
Will prepare myself thoroughly for the next week.
Look out for my upcoming analysis.