GBPUSD 4h UPDATE - incomplete
thankfully i had a pending order on this pair which was not tapped thanks to my buffer zone just above the previous wicks. so this is a learning lesson.
what i really should have done is the obvious... SELL ON DOWNTREND.
i made the silly mistake of trying to buy the retest. what i should have done is used the fib retrace tool from the LH to LL. which actually works out perfect in this updated chart layout. you can see price has tapped 38% and continued down.
this is a great lesson learned and it also acts as a reminder to stick to the basics... sell down and buy up.
what i really should have done is the obvious... SELL ON DOWNTREND.
i made the silly mistake of trying to buy the retest. what i should have done is used the fib retrace tool from the LH to LL. which actually works out perfect in this updated chart layout. you can see price has tapped 38% and continued down.
this is a great lesson learned and it also acts as a reminder to stick to the basics... sell down and buy up.
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Yellow text is the new update and the yellow circle would have been the TP and SL and entry.