GBPUSD Week 29 Swing Zones

١٤ يوليو

Pinched +25 pips in Week 28.
Looking back, we can see where price broke a swing zone but failed to continue, retracing back for what was suppose to be a huge swing to the down side.
Lessons learnt, new week new zones set.

١٤ يوليو

ملاحظة

We see a nice bounce on the 5 mins chart, however no trade taken. Spreads are usually wide at this time of the day.
Price breaking past support zone

١٥ يوليو

ملاحظة

We see a repeat of last week's pattern. Where price broke a zone, and didnt reach calculated level before reversing.
Now calculated level slightly above zone for a move down.
Entry@772
SL@ -10pips

١٥ يوليو

ملاحظة

Move SL to 835.
Momentum strategy requires fast bounce from level before some consolidation (typically 20pips)

١٥ يوليو

أغلقت الصفقة: تم الوصول لوقف الخسارة

SL hit for -7pips loss.
Price forming a double top @905
Awaiting the next zone for a buysetup

١٦ يوليو

ملاحظة

Excepting price to drop further, for a buy setup at support zone

١٧ يوليو

ملاحظة

Price failed to reach calculated level for up surge.
No FOMO here.
Looking for Sell setup

١٧ يوليو

ملاحظة

Keeping an eye on 556 area for sell setup

١٨ يوليو

ملاحظة

Entry 902
SL -10pips
Aiming for 556 as initially planned

١٨ يوليو

ملاحظة

Low momentum on trade.
Tight stops @844

١٨ يوليو

ملاحظة

SL hit @844 for -6pips.
Reentry @872 for fast move up (+20pips)

١٨ يوليو

ملاحظة

Tight stops @819 due to slow momentum

١٨ يوليو

ملاحظة

Back to Zone.
Tight stop.
Reentry @703

١٨ يوليو

ملاحظة

Tight stops @692
Price pinched +10pips and retraced.
Momentum slowing down

١٨ يوليو

ملاحظة

2 weeks in a row, price missed our swing zone by +10pips(red box).
Buy trades where to see if price could retrace to zone before move down.
However, we can see TPs of +80 pips in the predicted direction.
By keeping losses small, 1 good week trade will erode all losses
4 trades: -7/-6/-6-2 for -21pips