December 12 2023 I entered the 1st sell entry on the GBPUSD pair at 1.2566 with stop loss at 1.2596 calling for the move lower to the the 1:2RR target at 1.2506. On December 13 2023 I also posted the 2nd sell entry on social media @AidanFX ” SHORT/SELL GBPUSD at 1.25423 Stop Loss at 1.25573 Target 1.25046 – 1.24973 area.”
Sell Trade Setup
1. Price fakes out buyers and grabs buyside liquidity. (White Line)
2. Price breaks below internal structure lower low (Yellow Line) signalling bullish weakness and a bearish market structure shift (MSS).
3. Price/candlestick action respects the Fair Value Gap (FVG/Green Box) triggering the 1st sell entry.
4. The pair entered and respected the supply zone (green box) triggering the 2nd sell entry on December 13 2023.
GBPUSD 15 Minute Chart December 12 2023
GBPUSD 15 Minute Chart December 13 2023
1st SELL (Green) target hit at 1.2506 from 1.2566 and closed trade for +60 pips +2% and 2nd SELL (Yellow) target zone hit & closed trade at 1.2501 from 1.2542 for +41 pips +2.7%. Total +101 pips (+4.7% gain risking 1% on every trade)
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. If you followed me on social media you too could have caught the GBPUSD move lower. We at EWF never say we are always right. No market service provider can forecast markets with 100% accuracy. Only thing we at EWF 100%, is that we are RIGHT more than we are WRONG.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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