Not quite sure about this trade as it did not break above and sit firm on 1.25858
But nonetheless it's a Dominant Break on H4 and a not so convincing QM entry for buys.
Would be extra cautious on this one as the previous GBPUSD QM Trade hit stop without forming a Bullish candle. One of the reason it did not work probably it's also because it failed to sit and close above 1.25653.
Stops are quite lucrative sitting below the SnD which is roughly about 20pips. As there's no 100% win strategy so there's no 100% losing strategy , why not give it a shot with an acceptable risk. If it works then it's going to pay handsomely for this one.
But nonetheless it's a Dominant Break on H4 and a not so convincing QM entry for buys.
Would be extra cautious on this one as the previous GBPUSD QM Trade hit stop without forming a Bullish candle. One of the reason it did not work probably it's also because it failed to sit and close above 1.25653.
Stops are quite lucrative sitting below the SnD which is roughly about 20pips. As there's no 100% win strategy so there's no 100% losing strategy , why not give it a shot with an acceptable risk. If it works then it's going to pay handsomely for this one.
Trade active:
Activated Limit Order. Pray and spray all the way up to Potential Target
Comment:
Wonderful rally after the FOMC.. and breaks above 1.256 waiting for it to pull back around 1.256 and form a support then it's a buy.
But if price closes below 1.256 and formed a resistance, and break below it's own resistance this QM should be over.