Setup for Trend Following on GBPUSD

2023年10月16日

Here is my idea.
I'm waiting this 1H candel to finish and check first 20 min of Next candle to see if there are prerequisities. If not i presume GBPUSD will go reversla into bullish, making a new 4h HH even if one leg is not enough to declare a trend, but thats my idea.

We are on 75% retrace of previous bearish leg and on a perfect round number plus a Supply Demand Zone.

Yet USA last week news are strong but after the enthusiasm of all the prices should go back to where they belong .

Lets see how it will go on.

2023年10月17日

註釋

I closed 50% of my positions at the 50% retrace.
I dont like the 4h double top and that RSI Divergenze.

Still left 50% in but moved the stop Loss at the 50% of the Asian Session range.

2023年10月17日

註釋

CLosed other 25% at 21.3 (end of the US news).

Left only 25%.

Fair happy with the trade tbh.