REASONS TO WAIT FOR SIGNAL: On the last day of trading last week gbp cleared thursdays highs then went short but couldnt take out any lows formed previously. This is why i am currently neutral with my Bias im waiting for the lows to get raided or broken, a break would constitute longs whilst a break would mean more shorts to come. We got to wait for the market makers (smart money) to show their hand at the moment. But im banking on a raid of the lows and then long. Considering where price currently is (yearly lows). Fundamentals are something to watch but only for timing your entries price action will show you what will happen next.
Trade closed: target reached:
This one played out well; Price opened with double bottom signalling shorts asain session pushed it up and on the one hour we saw an opportunity to go short when the asain session was taken out before going short