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| GBP/USD Hourly |
Buy at 1.5538, I was expecting an abc reversal type pattern but failed, got stopped out at 1.5515, -23 pips loss.. Well it's a part of the game, sometimes you win, sometimes you lose, it's all about probability. The important thing is your risk has to be greater than your reward..
2nd trade, following the trend, typical false break...
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| GBP/USD Hourly |
Zoom out to 15 min chart, we'll get an earlier entry and with a tight stop..
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| GBP/USD 15 min |
Watch closely how the price break its support then retrace back to it's support become resistance with a bearish candle. Sell at 1.5480, Stop Loss will be just above the resistance at 1.5495, a 15 pips risk level..
Closed half at 1.5450, a 30 pips profit and closed the remaining at 1.5430, 50 pips profit. Noticed the divergence, I always play it safe whenever there's a divergence, when I feel in doubt I just get out...
Look at the hourly chart, we got an early reversal signal, bdb with triple divergence, wait for a false break, a bullish candle or a tight pattern...
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