Trade of the Week: GBP/USD H1: 22-23 March: +7% (+255 pips)
For more details and examples of trade, click "Examples of Trade" in the menu
The price has dropped and retraced forming a beautiful sell fractal before Francfort Open on the 22nd of March. On H4, the price is reversing so it will be a contretrend trade. The price on H4 is below the red line, below the box and the next level on the left is at 150 pips (we know that this is also a downtrend on D1), we place a PO below the box with a Stop Loss at 36 pips (above the last candle, this is 30min chart upper level of the box). The price drops and never get back above the green line, we exit two days later when the price breaks the upper level of the box for +255 pips, +7% profit.
For more details and examples of trade, click "Examples of Trade" in the menu
The price has dropped and retraced forming a beautiful sell fractal before Francfort Open on the 22nd of March. On H4, the price is reversing so it will be a contretrend trade. The price on H4 is below the red line, below the box and the next level on the left is at 150 pips (we know that this is also a downtrend on D1), we place a PO below the box with a Stop Loss at 36 pips (above the last candle, this is 30min chart upper level of the box). The price drops and never get back above the green line, we exit two days later when the price breaks the upper level of the box for +255 pips, +7% profit.
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