GBPUSD H4 trade

Pending market order with daily chart view, wait for breakout confirmation before entering pending sell limit

2 orders, daily chart, strong reversal below weekly fibo & break of key previous support level, bearish view, waiting for confirmation to enter on pullback


Linked ideas :

Comentarios:

Mistake:
- Should have waited for daily candle to close below daily key level at 1.23965 before pullback since you have identified a key support level and NOT a confirmation break below your entry instead because it could just bounce and rally higher at the key support level
- Sell limit is not yet valid UNTIL the break below the key daily support at 1.23965
- Could spike to nearest 61.8% extension as well
- Will try an entry on both setups again if it is valid