Hello Traders around the world!
If you remember my LAST analysis on GBPUSD, I was showing you the levels for long positions.
How did I plan my trade on GBPUSD?
First of all, I checked the higher time frame and realized that the price reached a mass psychology at 1.05200 + reached a daily lower TL.
I moved to the lower time frame (4H & 1H) and saw that the price hovered + gave us a V shape in that area.
After the V shape, the plan was to wait for a continuation pattern because of the bullish pole. The price formed a bull flag (as first bullish correction) on the 1H chart but didn't execute, it was missed.
When the price broke the 1H bull flag to the upside, I was checking on the 15 mins chart a second bullish flag forming.
Took the 15 min bull flag as stop order entry.
Entry at: 1.08047
SL at: 1.07494
When the price reached 1.09150 (2% or 2RR) I moved my SL to BE.
I am currently running at 7.2% & locking at 3.45% (1.09956) below 1H correction.
Execute properly.
Be patient.
#THEPRIMES
If you remember my LAST analysis on GBPUSD, I was showing you the levels for long positions.
How did I plan my trade on GBPUSD?
First of all, I checked the higher time frame and realized that the price reached a mass psychology at 1.05200 + reached a daily lower TL.
I moved to the lower time frame (4H & 1H) and saw that the price hovered + gave us a V shape in that area.
After the V shape, the plan was to wait for a continuation pattern because of the bullish pole. The price formed a bull flag (as first bullish correction) on the 1H chart but didn't execute, it was missed.
When the price broke the 1H bull flag to the upside, I was checking on the 15 mins chart a second bullish flag forming.
Took the 15 min bull flag as stop order entry.
Entry at: 1.08047
SL at: 1.07494
When the price reached 1.09150 (2% or 2RR) I moved my SL to BE.
I am currently running at 7.2% & locking at 3.45% (1.09956) below 1H correction.
Execute properly.
Be patient.
#THEPRIMES