osasumwen's GBPUSD Trade 0.00
Trade Details
Published: Feb 28, 2024
Status: Closed
Broker: TTF
Asset: Forex
Symbol: GBPUSD
Type: Short
Portfolios: 50k Funded
Performance Metrics
Entry CPU Exit CPU Fees Max Amount Max Cost P&L % P&L $
1.26 1.26 $0.00 2.0 $2.53 0.00% $0.00
Transactions
2 entries
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Entry (Buy/Short)
Exit (Sell/Cover)
Dividend
Notes

The use of top-down analysis was used to understand the flow of the market. The daily timeframe was used to find the overall trend of the market and the market had been retesting a support zone for the past four days. Dropped down to the (1hr) time frame where saw the market trending up so I drew a trendline and saw that the price had been respecting it but just broke the trendline towards the downside. Dropped down to the (15min) timeframe where I saw that the Asian session was quite expansive giving me the understanding that the London session might not have too many opportunities. Using DXY as extra confluence that GBP/USD would be going down, DXY was making moves to the Upside. 

On the (15-minute) timeframe the was a Demand zone and directly below it there was a buy-side imbalance giving me reasons why the market would want to come and fill it before making its way towards the downside. I entered the market, of the filling of the Imbalance. Not realizing that there is an imbalance that will need to be filled. Trade went in my favour but I had my eyes off the charts and the price reversed before hitting my TP and closed the trade for a break-even trade. 




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