Potential GBPUSD Rollover Buy Setup
The Market Price Action Algorithm has presented us with a potential long opportunity at London Session Rollover. Depending on how price reacts at this level, I may place a buy trade.
I'm expecting this area to be approached close to London session. If I start to see exhaustion of selling energy and nice wicks to the downside in this area, I will be entering the trade.
Regardless of how tight the stop loss is on this trade, do not overleverage.
The reason so many traders lose is because they choose to place unnecessary risk on each trade.
The name of the game is staying in long enough to compound, not getting rich overnight.
Trading is quite literally the tortoise and the hare parable.
The market transfers wealth from the impatient to the patient.
...Which group are you in?
I'm expecting this area to be approached close to London session. If I start to see exhaustion of selling energy and nice wicks to the downside in this area, I will be entering the trade.
Regardless of how tight the stop loss is on this trade, do not overleverage.
The reason so many traders lose is because they choose to place unnecessary risk on each trade.
The name of the game is staying in long enough to compound, not getting rich overnight.
Trading is quite literally the tortoise and the hare parable.
The market transfers wealth from the impatient to the patient.
...Which group are you in?
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Join The Hyena Hut and learn exactly how I approach the charts. Contact me on Instagram if you have any questions :)