RESULTS OF GBP/USD AND THOUGHTS MOVING FORWARD
GBP/USD 15M - Unfortunate results from the trade I was taking earlier on today, as you can see price did go on to hit SL within a few hours of it being placed, clearly price had not finished its correction.
With me getting involved in this market with a more fractal break, we didn't wait for a higher timeframe break, this was more pre-emptive but we had other pieces of confluence backing the trade.
Nevertheless I will be looking at getting re-introduced into this market with short positions, we just need to wait for price to trade us into anther valid area and deliver us with the confirmation parameters in order to enter in on the market.
The beauty of the strategy means that we can take a losses like this because when we do catch a trade of this caliber we generate returns upwards 5-6%. This trade here is offering a 1:8RR so the potential to make 8% with 1% risk.
With me getting involved in this market with a more fractal break, we didn't wait for a higher timeframe break, this was more pre-emptive but we had other pieces of confluence backing the trade.
Nevertheless I will be looking at getting re-introduced into this market with short positions, we just need to wait for price to trade us into anther valid area and deliver us with the confirmation parameters in order to enter in on the market.
The beauty of the strategy means that we can take a losses like this because when we do catch a trade of this caliber we generate returns upwards 5-6%. This trade here is offering a 1:8RR so the potential to make 8% with 1% risk.
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