GBP/USD - Low risk set up -Role Reversal - Confluence

Looking for a retracement of the last swing to 0.382 to take this trade and it is also the 200% extension of the 1st corrective wave after the swing. Role revversal of the swing low (see note) will play a part in the short from here .The GBP can sometimes retrace to 100%. In this case I think we have seen enough bears selling to join in the and short to the next profit target on the 15min . If we see a 0.382 retracement we will see more capitulation on this pair to a 1.618 Extention and a 1.27 of the retracement. If price goes beyond the 0.24 retracement level your out.


Disclaimer: These set-ups are just my ideas and not advise.