GBPUSD Week 29 Swing Zones

Jul 14Pinched +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.

Jul 14

Comment

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

Jul 15

Comment

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

Jul 15

Comment

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

Jul 15

Trade closed: stop reached

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

Jul 16

Comment

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

Jul 17

Comment

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

Jul 17

Comment

Keeping an eye on 556 area for sell setup

Jul 18

Comment

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

Jul 18

Comment

Low momentum on trade.
Tight stops @844

Jul 18

Comment

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

Jul 18

Comment

Tight stops @819 due to slow momentum

Jul 18

Comment

Back to Zone.
Tight stop.
Reentry @703

Jul 18

Comment

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

Jul 18

Comment

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