Its been massively fun trading the GBPUSD, for me i just like the GBP crosses are they deliver good amount of piprunsand always follow up with my analysis, as you all know you are to do what works for you thats why i trade them almost all the time.
So back to our analysis, we see this pair make a new LL on friday at 1.2315 and retraced back, i was expecting more bearish momentum and almost left my possitions open to run over the weekend but thats against my rules so i had to close out the trades at 1.2330 on friday.
Luckily i was right as price retraced over 50% of that move into the 1.2387 zone which magically alligned with the 61.8 fib resistance level, as this level was respected i knew we could possibly see a further downside, i had to wait for my entry confirmation signals to trigger before i took the short at 1.2358 stop loss at 1.2387 projecting for a 100pips TP at around 1.2257.
Am very confident this trade will likely play out as expected but will be following up with my risk management principles by moving my stops progressionally.
If you took the trade congratulations, use this levels as a guide
see you all soon
N.B Please dont forget to follow my analysis here, GOD Bless you all.
Pipboss.
So back to our analysis, we see this pair make a new LL on friday at 1.2315 and retraced back, i was expecting more bearish momentum and almost left my possitions open to run over the weekend but thats against my rules so i had to close out the trades at 1.2330 on friday.
Luckily i was right as price retraced over 50% of that move into the 1.2387 zone which magically alligned with the 61.8 fib resistance level, as this level was respected i knew we could possibly see a further downside, i had to wait for my entry confirmation signals to trigger before i took the short at 1.2358 stop loss at 1.2387 projecting for a 100pips TP at around 1.2257.
Am very confident this trade will likely play out as expected but will be following up with my risk management principles by moving my stops progressionally.
If you took the trade congratulations, use this levels as a guide
see you all soon
N.B Please dont forget to follow my analysis here, GOD Bless you all.
Pipboss.
