GBPUSD Sell From Daily Channel
I have not posted much due to the fact I have been travelling a lot, but I have still been trading with the members. This was a swing trade on GBPUSD I took at the start of this week.
GBPUSD has been on a downwards path for the past couple of days from the daily time frame. You can clearly see price creating lower lows and lower highs and I waited for price to push back up to a resistance level before taking it back down for a 1:6 RR. The resistance level also lined up perfectly with the downwards channel on the daily timeframe. Once we came into that level, I scaled down to the 30 minute time frame and got this perfect BD setup. Nice setup, and a nice swing trade to start my trading week off.
GBPUSD has been on a downwards path for the past couple of days from the daily time frame. You can clearly see price creating lower lows and lower highs and I waited for price to push back up to a resistance level before taking it back down for a 1:6 RR. The resistance level also lined up perfectly with the downwards channel on the daily timeframe. Once we came into that level, I scaled down to the 30 minute time frame and got this perfect BD setup. Nice setup, and a nice swing trade to start my trading week off.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.