GU trade breakdown of my thought process for the key area and PT

FX:GBPUSD   British Pound / U.S. Dollar
This is a recent trade on GU that i took earlier this week.

This is a go to set up that ticked all of the boxes perfectly, the key takeaways from this post is about the importance of using the higher time frames to find key areas to enter from as well as key areas to set a PT at.

The entry was refined on the 1min chart however the information that we gather from the higher time frames need to be taken into consideration first. This is because we only want to be dropping down the lower time frames for the entry when we have our bias and key areas already worked out from the higher time frames 1hr and above.

We need to get a clear bias from the 1hr chart before we are even considering to drop down and look for an entry. This is why my key area was marked on the 1hr IMB fill and i waited for this to be hit before dropping down a time frame.

I then waited for a 15min Break of stucture before then dropping down even further to the 1min to look for the actual entry.

This was a short term trade, however because of the 4 pip stop loss i was still able to take 10% from the market in only a 40 pip move.

Because the higher time frame structure was so bearish it would be silly to try and push for any more then 10% on this trade.


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