The 1h chart is in a down trend with new LLs being formed.
The trade is more of a "risky" trade as I am expecting price to pull up to the 10m entry zone above and explained in a previous post.
Why am I taking this trade if it is "risky"?
If this trade does lose then the second entry that I have talked about previously is now almost a 10:1 trade and so will cover the loss.
GBPUSD is in quite an aggressive downtrend on the higher timeframes and so I view the risk to reward as favourable.
The entry is at the 1h down trend extreme.
The trade is more of a "risky" trade as I am expecting price to pull up to the 10m entry zone above and explained in a previous post.
Why am I taking this trade if it is "risky"?
If this trade does lose then the second entry that I have talked about previously is now almost a 10:1 trade and so will cover the loss.
GBPUSD is in quite an aggressive downtrend on the higher timeframes and so I view the risk to reward as favourable.
The entry is at the 1h down trend extreme.
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