GBPUSD Small Countertrend Long Position
Hi Traders,
Yes, GBP/USD is still falling along with many other markets.
We have not bottomed out as yet – No confirmation suggests a reversal as yet.
If the price retraces slowly back into the yellow zone, I am looking at a small buy position.
It is a countertrend trade so I will be risking a very small amount.
We have a large bullish impulsive candle that took out previous price structure.
If the price retraces with low bearish volume, I would consider jumping in on this counter-trend position with a Risk/Reward of 1 / 4.
Have a great day.
See you on the next one
The Vortex Trader
Yes, GBP/USD is still falling along with many other markets.
We have not bottomed out as yet – No confirmation suggests a reversal as yet.
If the price retraces slowly back into the yellow zone, I am looking at a small buy position.
It is a countertrend trade so I will be risking a very small amount.
We have a large bullish impulsive candle that took out previous price structure.
If the price retraces with low bearish volume, I would consider jumping in on this counter-trend position with a Risk/Reward of 1 / 4.
Have a great day.
See you on the next one
The Vortex Trader