Trade #1 : GBP/USD (cont).
Trade entry : I entered this short at 1.6284 (red marker) on the retracement of the BEOB as we came into previous support (green line).
Throughout the morning we went nowhere and then we broke lower taking me about 60 pips onside. However, at this point price came all the way back and created the swing failure (marked with the blue arrow).
At this point, I decided I was wrong on my short and scratched the trade and immediately began looking for a long entry.
Trade entry : I entered this short at 1.6284 (red marker) on the retracement of the BEOB as we came into previous support (green line).
Throughout the morning we went nowhere and then we broke lower taking me about 60 pips onside. However, at this point price came all the way back and created the swing failure (marked with the blue arrow).
At this point, I decided I was wrong on my short and scratched the trade and immediately began looking for a long entry.