GBPUSD Week 29 Swing Zones

14 Jul

Pinched +25 pips in Week 28.
Looking back, we can see where price broke a swing zone but failed to continue, retracing back for what was suppose to be a huge swing to the down side.
Lessons learnt, new week new zones set.

14 Jul

Nota

We see a nice bounce on the 5 mins chart, however no trade taken. Spreads are usually wide at this time of the day.
Price breaking past support zone

15 Jul

Nota

We see a repeat of last week's pattern. Where price broke a zone, and didnt reach calculated level before reversing.
Now calculated level slightly above zone for a move down.
Entry@772
SL@ -10pips

15 Jul

Nota

Move SL to 835.
Momentum strategy requires fast bounce from level before some consolidation (typically 20pips)

15 Jul

Dagangan ditutup: hentian tercapai

SL hit for -7pips loss.
Price forming a double top @905
Awaiting the next zone for a buysetup

16 Jul

Nota

Excepting price to drop further, for a buy setup at support zone

17 Jul

Nota

Price failed to reach calculated level for up surge.
No FOMO here.
Looking for Sell setup

17 Jul

Nota

Keeping an eye on 556 area for sell setup

18 Jul

Nota

Entry 902
SL -10pips
Aiming for 556 as initially planned

18 Jul

Nota

Low momentum on trade.
Tight stops @844

18 Jul

Nota

SL hit @844 for -6pips.
Reentry @872 for fast move up (+20pips)

18 Jul

Nota

Tight stops @819 due to slow momentum

18 Jul

Nota

Back to Zone.
Tight stop.
Reentry @703

18 Jul

Nota

Tight stops @692
Price pinched +10pips and retraced.
Momentum slowing down

18 Jul

Nota

2 weeks in a row, price missed our swing zone by +10pips(red box).
Buy trades where to see if price could retrace to zone before move down.
However, we can see TPs of +80 pips in the predicted direction.
By keeping losses small, 1 good week trade will erode all losses
4 trades: -7/-6/-6-2 for -21pips