GBPUSD short trade on 16 Nov 2021
Pre Analysis:-
- GBPUSD on hourly chart shows downtrend.
- On pullback there was a sign of weakness, upthrust with high volume.
- Wait for further sign of weakness on 15 minutes chart for entry.
Entry:-
- Price drop below upthrust bar and pullback after that.
- Finally a no demand bar appear and entry made just below of that bar
- Entry:-
Time: 9:30am
Lot Size: 1 lot
Risk: 1% ($100)
Stop: 1.34289
- Trade also in conjunction with trending system chart that show downtrend.
Post Analysis:-
- Trade end up loss $100 (hit stop)
- There is a question whether that true no demand bar?, what is no demand bar?
- The next bar after that no demand bar not close lower than it, can it be taken as true no demand?
- Certainly I need TradeGuider software. Look like I am guessing all the indicator in TradeGuider.
- I have to make sure I can afford to purchase the software as soon as possible, it will help me a lot with my trading.
