This is in reference to our previous idea of us entering on the 4H timeframe bottom confirmation towards a daily bottom and then a weekly bottom to confirm. It was entered based on price and volume spread analysis rationale and the cycle framework methodology by the smart money indicator. Please refer to our reference videos below.
As of today, the bottom on daily timeframe confirmed yesterday. Good job on those who stuck on the trade despite the selloff on friday last week. We have now successfully captured a 4h bottom holding onto becoming a daily bottom by understanding the cycle and smart money framework. Now,we will manage the trade on daily timeframe till it confirms its bottom on the weekly timeframe. Let's wait and see. Patience is virtue.
Trade closed: stop reached
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Trailing stop loss at last interruption hit at 1.2688. Net P/L: -22pips @£10 a pip = -£220