GBPUSD weekly trade. – The Charter

Let’s start with the beggining of the week.

Check those two screenshots of my charts. One of them are from my phone i’ll get to that in a minute.

Firstly, check the chart on my PC where i always chart. I draw Rejection Block on 4HR and Daily. Both of them are matching on the same idea. I consider higher TF looks because i do weekly trades.Additionally and perfectly, look at the mobile screenshot i put there. It is a Weekly OB formed very recently, price retraced and retested that Weekly OB perfectly and this also gave me more confidence in my trade. As you can see i already have 3 TF confirmation and all of them are Higher TF.This trade took 4 days to complete and reach TP. You have to be patient while trading, it’s not something you can rush. Like a wise man once said “Trading is like a Fart if you have to force it it’s probably shit” ( @ZFXtrading).

I set my target and waited price to deliver there. So it did and i started longing from that Rejection Block and set my SL below recent low’s. For the week price slightly moved to up and down, during that time i paid least attention to FX because over managing, over analyzing can fuck you up so bad. You should have a solid plan and stick to that and an invalidation point which in this case it is old lows. Never trade without StopLoss.

During the week price moved down and gave me more opportunities to long it and average my entry lower, so i added to my position. On a macro perspective i was so sure because i checked 10 YR Note, Yield and DXY etc. which i shared it on Twitter as well. (My checklist)

Before entering a trade you should always have a target to close the trade. Don’t put that as 45 Pips only. Aim for the liquidity. For that trade i aimed Equal Highs which includes stops above. We close our positions where people just start to enter that trade. Their stops ran and we collect profits.

Now i want to show you why you should always decide on Higher TF and execute on Lower TF.