GBPUSD, 4hr tf, sell on conlfuence of resistance
Hello my friends,
I hoped you all are doing well with your trading.
I myself am having a bad week as some positions hit stop loss.
This week alone i got 4 positions hit stop loss and got 8% loss banked.
Each trade was using 2% risk so in total it was 8%.
Well thats not a problem because everybody will have a bad week or months in trading. Nothing to be a shamed of.
For today i am gonna trade lightly and i already got some positions in mind which looks very interesting.
First is GBPUSD pair.
As you can see, price still moving inside the ascending channel which could be a potential bearish flag in the future.
Price currently moving into an area of confluences which is the meeting point of ascending channel and horizontal weekly resitance.
In my opinion, we could see sellers step in to hold this area and a rotation to the lower side is likely to happen.
Sell GBPUSD 1.3265
Stop loss 1.3300
Take profit 1.3160 (3R)
RR ratio 1 : 3
Use only 1-2% risk
Good luck
I hoped you all are doing well with your trading.
I myself am having a bad week as some positions hit stop loss.
This week alone i got 4 positions hit stop loss and got 8% loss banked.
Each trade was using 2% risk so in total it was 8%.
Well thats not a problem because everybody will have a bad week or months in trading. Nothing to be a shamed of.
For today i am gonna trade lightly and i already got some positions in mind which looks very interesting.
First is GBPUSD pair.
As you can see, price still moving inside the ascending channel which could be a potential bearish flag in the future.
Price currently moving into an area of confluences which is the meeting point of ascending channel and horizontal weekly resitance.
In my opinion, we could see sellers step in to hold this area and a rotation to the lower side is likely to happen.
Sell GBPUSD 1.3265
Stop loss 1.3300
Take profit 1.3160 (3R)
RR ratio 1 : 3
Use only 1-2% risk
Good luck
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